BitMEX to permanently close doors on 23 September 2026

BitMEX, the crypto exchange that was once one of the largest derivatives platforms in the world, is definitively closing. The company announces that the exchange will shut down forever on 23 September 2026 at 04:00 UTC. New account registrations have been suspended immediately.

From market leader to closure

BitMEX was co-founded in 2014 by Arthur Hayes and was the first in the crypto industry to introduce the perpetual swap, a financial instrument that has now become indispensable in the world of crypto derivatives. In its early years, the platform grew into one of the dominant forces in the market, with enormous trading volumes and a loyal user base worldwide.

That position did not hold. Competitors such as Binance and Bybit gradually took over more market share in the following years, slowly but surely pushing BitMEX to the sidelines. In 2020, Hayes and his co-founders came into conflict with US authorities over criminal charges, after which they stepped down from the company. In 2025, rumours circulated about a possible sale of the exchange, but an official deal was never announced.

Strategic reorientation leads to closure

Parent company HDR Global Trading Limited, owner and operator of BitMEX, made the decision to close the exchange after an extensive strategic analysis of the company and the broader crypto industry. This is reported by BitMEX itself in an official announcement to users. The company states that this decision is a heavy one and was not taken lightly.

Users have until the closing date to secure their funds. The suspension of new registrations takes effect immediately, meaning the platform is now only accessible to existing users. With the disappearance of BitMEX, the crypto industry loses one of its original pioneers, a platform that helped lay the foundation for the modern derivatives trading that takes place on a large scale today.