GoTycheThe exchange, co-founded by Arthur Hayes, stopped trading and deposits, but says users can still log in and withdraw funds as its wind-down continues.
BitMEX shuts down: perpetuals pioneer officially closes it doors after 11 years
The exchange, co-founded by Arthur Hayes, stopped trading and deposits, but says users can still log in and withdraw funds as its wind-down continues.
BitMEX has ended trading, deposits and new positions after an 11-year run, but customers can still log in and withdraw their balances. The exchange urged users to withdraw funds, warning that verified accounts with remaining balances will face a monthly fee based on an annualized 1% of assets or a $50 minimum, whichever is greater. BitMEX, which helped pioneer perpetual futures, announced its closure in July after a strategic review as it lost ground in the derivatives market it helped create.
BitMEX, the crypto derivatives platform that helped pioneer perpetual futures trading, marked the end of an era Wednesday, shutting down exchange operations except for withdrawals..
Trading, deposits and new positions are no longer available 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 definitely no longer possible.
BitMEX, which was co-founded by Arthur Hayes, Ben Delo and Samuel Reed in 2014 urged its customers to withdraw funds and said account fees now apply to know-your-customer (KYC) verified users who leave balances on the exchange. The monthly charge is based on an annualized 1% of assets or a $50 equivalent minimum, whichever is greater.
The closure brings to an end the 11-year run of an exchange that helped establish the perpetual swap, now the dominant instrument in crypto derivatives markets. But BitMEX’s shutdown is not a freeze on customer assets, as the platform reiterated that withdrawals remain available as it winds down.
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’s closure comes as perpetuals futures, or perps, it brought to the space are now among the world’s most-traded financial products, while centralized crypto-exchange derivatives volume reached $3.4 trillion in August alone or up to $50 trillion a year, according to CoinDesk research.
1Bitcoin slides to $83,300 as bond yields hit highest level since 200740 minutes ago 2Traders price in 4 Fed rate hikes by June 2027 as bitcoin slides below $83,00058 minutes ago 3The data proves it: Bitcoin doesn't care about rising bond yields over long-term1 hour ago 4EU financial watchdogs warn quantum computing poses imminent threat to blockchain encryption1 hour ago 5Trump administration weighs a global stablecoin plan to cement dollar's dominance4 hours ago 6A week of AI coding cut a quantum-safe bitcoin transaction estimate from $320 to $665 hours ago 7Dogecoin down 8%, bitcoin under $84,000 as Treasury yields hit highest level since 20076 hours ago 8Kalshi says it is not being investigated by the CFTC over trading activity16 hours ago 9Former Hack VC partner Hsin-Ju Chuang found dead following public dispute with the firm16 hours ago 10White House adviser defends President Trump's crypto ties in wake of Clarity Act defeat17 hours ago
The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Former Hack VC partner Hsin-Ju Chuang found dead following public dispute with the firm
Inside the FBI’s little-known annual crypto crime gathering
MoonPay to acquire SEC-registered North Capital in $60 million all-stock deal