Key facts
- Crypto exchange BitMEX will cease operations on September 23, 2026.
- The decision follows a strategic review by HDR Global Trading Limited, the owner and operator.
- Users are advised to withdraw funds as soon as practical.
- The exchange pioneered 100x Bitcoin leverage.
- Founders Arthur Hayes, Benjamin Delo, and Samuel Reed had previously pleaded guilty to Bank Secrecy Act violations but were pardoned in 2025.
Crypto derivatives exchange BitMEX will close down in September, according to an announcement on the company’s website. The exchange stated that after a strategic review, the board of HDR Global Trading Limited, its owner and operator, decided to shut down operations.
BitMEX advised users to withdraw their funds as soon as practical, noting that services would be available as normal until September 23. After that date, the exchange will only hold client assets until they are withdrawn. The company also confirmed that all staked BMEX Tokens have been unstaked and are available in users’ accounts.
Founded by Arthur Hayes, Benjamin Delo, and Samuel Reed, BitMEX has had a history of legal challenges. In 2021, the exchange paid $100 million in civil penalties after regulators alleged it allowed U.S. clients to use its platform without identity verification. The founders pleaded guilty in 2022 to violations of the Bank Secrecy Act for failing to implement an anti-money laundering program, each agreeing to pay a $10 million fine. BitMEX later paid an additional $100 million fine for its guilty plea. However, in 2025, all three founders received pardons from President Donald Trump.