BitMEX, Once Crypto’s Top Derivatives Exchange, to Shut Down on Sept. 23

Crypto derivatives exchange BitMEX said it will permanently cease operations on Sept. 23, marking the end of a platform that pioneered perpetual futures trading and was once among the industry’s largest exchanges.

BitMEX said its exchange will permanently close at 04:00 UTC on Sept. 23. The company has also stopped accepting new user registrations ahead of the shutdown.

Founded in 2014 by Arthur Hayes and his co-founders, BitMEX introduced the cryptocurrency market’s first perpetual swap, a product that became a cornerstone of digital asset derivatives trading. The exchange was once one of the world’s leading crypto derivatives venues before ceding market share to rivals including Binance and Bybit.

Hayes and his co-founders stepped down from the company after U.S. authorities brought criminal charges against them in 2020. More recently, a reported effort to sell BitMEX in 2025 did not lead to a publicly announced transaction.

Source: BitMEX