Summary
- BitMEX, the crypto derivatives exchange that pioneered the 100x leverage perpetual swap, will shut down operations on Sept. 23, 2026, and is urging users to close positions and withdraw funds immediately.
- New account registrations have been halted and open contracts will be forcibly closed before the final shutdown to ensure an orderly wind-down.
- Users who do not withdraw by the deadline will incur maintenance fees.
BitMEX, the crypto derivatives exchange that permanently transformed global market structure by inventing the perpetual swap, revealed Thursday that it will shut down operations on Sept. 23.
“Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC., the platform told users. “From today, we strongly encourage all users to close their positions and withdraw their funds as soon as convenient.”
Users who fail to withdraw their assets by the deadline will face automatic financial penalties, as the exchange will charge a monthly maintenance fee of $50 or an annualized 1% levy on their assets, the exchange stated in an email to account holders, the post pointed out.
BitMEX’s decision to shut down comes after years of ceding the perpetuals business it pioneered to nimbler centralized rivals and a new wave of decentralized derivatives venues, as liquidity, market makers and whales migrated to platforms with deeper books, more listings and fewer legal hangovers.
