BitMEX Shuts Down Without Triggering Financial Crisis

BitMEX is closing its doors after completing a business review and determining that it can no longer sustain itself. The exchange will shut down on September 23, with customers advised to close their positions and withdraw funds before then.

The announcement marks a departure from the recent trend of crypto exchanges failing due to financial crisis, as seen in the collapse of FTX and others in 2022.

According to Kaiko data, BitMEX's market share has dropped below 0.01%, and its daily volume is around $400,000, making it a relatively small player in the crypto market.