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BitMEX, founded by Arthur Hayes' team, to shut down after 11 years

AI Market Summary
BitMEX, an early crypto derivatives venue that popularized the 100x perpetual swap, will shut down on Sept. 23 following a strategic review. The closure forces position unwinds and fund withdrawals, potentially concentrating liquidity and leverage onto remaining exchanges in the near term. While not systemically large today, the event is relevant for derivatives market structure, counterparty dispersion, and short-term funding/positioning dynamics.
Impact level
● Medium
Affected assets
BTC/USDT-0.58%
AI Insight · BTC/USDTAI Insight
● Neutral
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BitMEX will stop operating at 04:00 UTC on Sept. 23 after its owner, HDR Global Trading, decided to close the exchange following a strategic review. The platform has urged users to wind down any open positions and withdraw funds as soon as possible. BitMEX was an early leader in crypto derivatives, known for introducing the 100x perpetual swap—a product that has since become the most actively traded derivatives instrument in the digital-asset market.
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