BitMEX, the crypto derivatives exchange founded by Arthur Hayes, said it will formally shut down on Sept. 23 at 04:00 UTC. The platform has already stopped accepting new user registrations and will stop allowing new positions from Aug. 26, after which it will gradually force-close existing positions. The update marks the end of one of the best-known names in crypto derivatives trading. BitMEX is widely known as the originator of the perpetual futures product. The report also notes that after the exchange came under pressure from the U.S. government, Hayes gradually stepped away from BitMEX’s operations. In the past few years, the company had continued to seek a buyer, but those efforts did not result in a deal.
BitMEX, the crypto derivatives exchange founded by Arthur Hayes, said it will formally shut down on Sept. 23 at 04:00 UTC.
The platform has already stopped new user registrations. Starting Aug. 26, it will no longer allow new positions and will gradually force-close existing positions.
BitMEX is known as the originator of the perpetual futures product. According to the report, after the exchange came under pressure from the U.S. government, Hayes gradually withdrew from BitMEX’s operations. In recent years, BitMEX had also continued to seek an acquisition, but those efforts were unsuccessful.
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