Bitmex Announces Closure After Over a Decade in Crypto Trading
WHO:
Reuters - BitMEX is a cryptocurrency exchange operated by HDR Global Trading Limited.
Reuters - The founders of BitMEX were pardoned by Trump in 2025.
WHAT:
Cointelegraph - BitMEX delisted 65 trading pairs and derivatives in July, compared to just 19 in the first six months of the year.
Cointelegraph - A proposed class action lawsuit against BitMEX alleges the exchange used privileged trading access and server freezes to profit from forced liquidations, involving 623 BTC.
Cointelegraph - BitMEX’s BMEX token crashed about 90% following the announcement of the exchange's shutdown, marking the end of nearly 12 years in business.
Cointelegraph - BitMEX’s BMEX token plunged about 90% after the exchange announced plans to shut down.
Reuters - BitMEX announced it will shut down its operations.
Cointelegraph - BitMEX will cease operations after 11 years in the crypto derivatives market.
Reuters - Users' assets on BitMEX are reported to be safe.
WHEN:
Reuters - BitMEX will shut down on September 23, 2026.
WHY:
Cointelegraph - Analysts attribute BitMEX's closure to rising regulatory costs, market concentration, and a shift toward licensed trading venues.
Reuters - The decision to close BitMEX was made by its owner, HDR Global Trading Limited.
HOW:
Reuters - The closure of BitMEX was announced publicly.
(UPDATED July 24, 2026 06:48 UTC)
BitMEX has made significant changes by delisting 65 trading pairs and derivatives this month, a sharp increase from just 19 in the first half of the year. Additionally, a proposed class action lawsuit against the exchange claims that BitMEX exploited privileged trading access and server freezes to profit from forced liquidations, which involved 623 BTC. These developments highlight ongoing concerns regarding trading practices within the cryptocurrency exchange.
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(UPDATED July 23, 2026 21:20 UTC)
BitMEX's BMEX token plummeted nearly 90% after the announcement of the exchange's shutdown, signaling the end of almost 12 years of operation. Analysts believe the closure is due to increasing regulatory costs, market concentration, and a trend towards licensed trading venues. This significant shift in the cryptocurrency landscape highlights the challenges facing exchanges in today's environment.
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(UPDATED July 23, 2026 14:45 UTC)
BitMEX's BMEX token has seen a dramatic drop of about 90% following the exchange's announcement that it plans to shut down. This significant decline has raised concerns among investors and traders alike. As the situation develops, many are watching closely to see what impact this will have on the broader cryptocurrency market.
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(UPDATED July 23, 2026 12:24 UTC)
BitMEX, a cryptocurrency exchange operated by HDR Global Trading Limited, has announced it will shut down its operations after 11 years in the crypto derivatives market. The decision to close was made by its owner, and users' assets on the platform are reported to be safe. BitMEX is set to cease operations on September 23, 2026.