Crypto▼ Bearish
Perpetual swap pioneer BitMEX shuts down after 11 years
BitMEX will close September 23 after 11 years. The exchange that pioneered 100x perpetual swaps faces its final chapter; users have until August 26 to reduce positions.
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HDR Global Trading Limited said July 23 that its BitMEX exchange will close permanently on September 23, 2026, at 04:00 UTC. The announcement ends an 11-year run that introduced crypto traders to 100x-leverage perpetual swaps and processed more than $3 trillion in cumulative volume.
New account registrations stopped immediately. Position limits kick in on August 26, giving traders about a month to reduce exposure. HDR Global urged users to close positions and withdraw funds before the final deadline.
BitMEX's perpetual swap product was genuinely innovative. It let traders hold leveraged positions indefinitely without the expiry mechanics of traditional futures contracts. That design is now standard across major derivatives venues.