BitMEX Exchange to Cease Operations After 11 Years
Crypto derivatives exchange BitMEX will shut down on September 23, 2026. The Seychelles-based firm announced the decision following a strategic review of its business and market conditions. Users have been instructed to close positions and withdraw funds before the deadline as new account registrations are now blocked. BitMEX has outlined a phased wind-down process starting August 26, during which users can only reduce existing positions but not open new ones. Any remaining trades will be automatically closed by the exchange. Unwithdrawn balances after closure will incur monthly fees based on either $50 or 1% annually of the account balance. The company has a history of legal issues and was fined $100 million in January 2025 for anti-money laundering violations, though its founders were pardoned by former U.S. President Donald Trump in March 2025.