BitMEX, the cryptocurrency derivatives exchange, has announced it will shut down operations by September 23. The company has advised users to close their positions and withdraw funds before this date.
The decision to wind down the business follows a strategic review by the board. BitMEX, co-founded by Arthur Hayes in 2014, is known for pioneering the 100x leverage perpetual swap, which significantly impacted the global crypto market.
BitMEX has halted new sign-ups and is focusing on ensuring a smooth transition for its existing users. The exchange has been a major player in the crypto derivatives space for over a decade.
The closure of BitMEX marks the end of an era for the exchange, which has been influential in shaping the crypto trading landscape.
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