BitMEX Winds Down Operations by Settling All Listed Contracts

BitMEX has taken another step towards its shutdown by settling all 35 listed contracts on July 30. The settlement process saw trading come to an end, with open orders canceled and positions closed at the listed prices. This move is part of the exchange's wider wind-down process, which includes a closure notice that new registrations stopped immediately.

As per BitMEX's public records, all contracts were settled with 33 carrying a 12:00:05 UTC timestamp. The EURUSD and USDCHF contracts, however, appeared more than 30 minutes later at 12:32:25 and 12:33:25 UTC.

Before the settlement, trading continued normally until 04:00 UTC, when BitMEX fixed the final funding rate using prices from the preceding eight hours. The exchange then stopped calculating new funding rates and set the next funding rate to zero. This checkpoint established the funding input for the settlement but did not mark the end of trading.

The settlements were an early step in the wind-down process, with BitMEX attributing the delistings to insufficient trading interest and its planned exchange shutdown. Users who leave assets on the platform after closure may face an account fee, billed monthly, equal to the greater of $50 equivalent or 1% per year.