Crypto▼ Bearish
BitMEX to shut down crypto derivatives exchange after 11 years
BitMEX will cease operations Sept. 23, 2026, ending an 11-year run. Users must withdraw by the deadline or face custody fees. The exchange invented the 100x perpetual swap.
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BitMEX, the crypto derivatives exchange that popularised the 100x perpetual swap, will shut down on Sept. 23, 2026. Parent company HDR Global Trading Limited decided to close the platform after a strategic review of its business and the wider digital asset industry, the exchange said in an announcement Thursday.
Effective immediately, BitMEX stopped accepting new user registrations. Trading will continue until Aug. 26. After that date, traders can only reduce existing positions. BitMEX will gradually force close outstanding positions ahead of the Sept. 23 deadline, and any positions remaining at closure will be automatically settled. Illiquid contracts could be settled early under existing procedures, the exchange said.
“BitMEX invented the 100x leverage perpetual swap, the most traded product in the crypto industry – now adopted by thousands of people and exchanges,” the team stated. “This legacy reflects our commitment to bringing innovative and sophisticated risk management tools for all users. And we continue to take pride in our robust security posture, which, unlike many of our peers, has resulted in BitMEX experiencing zero funds lost to hacks during its entire operating history of over 11 years.”