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BitMEX Shuts Down Trading After 11 Years, Leaves Withdrawals Open
CryptoNews2 min readAI-assisted

BitMEX Shuts Down Trading After 11 Years, Leaves Withdrawals Open

BitMEX, the exchange that helped pioneer perpetual futures, has ended trading, deposits and new positions after 11 years, though customers can still withdraw

September 23, 2026Source: coindesk.com ↗

BitMEX has ended exchange operations after an 11-year run, halting trading, deposits and new positions while keeping withdrawals open for customers.

Trading, deposits and new positions became unavailable as of 04:00 UTC on Tuesday, BitMEX said in a statement on X. Users can still log in and withdraw their balances through the platform's website, but the company said deposits are no longer possible.

BitMEX, co-founded by Arthur Hayes, Ben Delo and Samuel Reed in 2014, urged customers to withdraw their funds. The exchange said account fees now apply to know-your-customer (KYC) verified users who leave balances on the platform. The monthly charge is based on an annualized 1% of assets or a $50 equivalent minimum, whichever is greater.

Background

BitMEX announced in July that it was closing following a strategic review by parent HDR Global Trading. At the time, the exchange had reportedly been losing ground in the perpetuals market it helped create. BitMart also announced it was shutting down in July due to market conditions after nine years in business.

  • BitMEX helped establish the perpetual swap, now the dominant instrument in crypto derivatives markets.
  • The shutdown does not freeze customer assets; withdrawals remain available as the platform winds down.
  • Centralized crypto-exchange derivatives volume reached $3.4 trillion in August alone, or up to $50 trillion a year, according to CoinDesk research.

Source: CoinDesk

Tags

#Bitcoin#Futures#Crypto Regulation#KYC

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