BitMEX Ends Trading After 11 Years — SkimNews
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- BitMEX ended all exchange operations at 4:00 UTC on Wednesday, two months after announcing the shutdown, wrapping up 11+ years of operation since its 2014 launch.
- BitMEX no longer allows trading or deposits but is keeping withdrawals open via its website, with API withdrawals set to be disabled on Sept. 28.
- HDR Global Trading Limited, BitMEX's owner and operator, decided to close the exchange following a strategic review and explicitly said the shutdown was not tied to legal or regulatory issues.
- BitMEX originally announced the closure on July 23, planning to cease services on Sept. 23, and was launched in 2014 as a venue that helped popularize perpetual swaps with up to 100x leverage.
- The closure comes as the Celsius bankruptcy estate sued five BitMEX-linked companies, alleging fraud, market manipulation, and wrongful liquidations tied to 6,360 Bitcoin (~$490M) during the March 2020 crash.
Why it matters: BitMEX, a pioneer of 100x-leverage perpetual swaps, is exiting after 11 years, and HDR Global explicitly told users the closure stems from a strategic review — not legal or regulatory trouble — even as the Celsius estate is actively suing five BitMEX-linked entities for ~$490 million in Bitcoin tied to the 2020 crash.
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