BitMEX to Shut Down on September 23 After Over 11 Years of Operations
BitMEX, one of the pioneering cryptocurrency derivatives exchanges, will shut down on September 23, 2026. The exchange's owner and operator, HDR Global Trading Limited, made the announcement after conducting a strategic review.
The company cited its assessment of the business and broader crypto industry as the reason for the decision to cease operations. BitMEX was founded in 2014 by Arthur Hayes, Benjamin Delo, and Samuel Reed, who pioneered the high-leverage perpetual swap product that became a staple of the crypto derivatives market.
BitMEX expressed pride in its legacy and highlighted its security record, stating it had never lost customer funds to hacks throughout its over 11-year history. The exchange's influence grew rapidly during the industry's early expansion, but its market position weakened over time as competitors expanded their offerings and captured a larger share of global trading activity.
Arthur Hayes bid farewell to BitMEX in a message, thanking employees, partners, and customers for helping build the platform. He concluded with the phrase 'Satoshi for life,' referencing Bitcoin's pseudonymous creator and BitMEX's early positioning as a platform built around the principles of the cryptocurrency movement.