Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editor

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff editor

BitMEX to shut down after 11 years in crypto derivatives

Latest NewsPublishedJul 23, 2026

BitMEX revealed it will shut down operations on Sept. 23, 2026, after owner HDR Global Trading Limited decided to close the crypto exchange.

BitMEX, one of the pioneers of cryptocurrency derivatives trading, revealed it will shut down operations after owner and operator HDR Global Trading Limited decided to close the company following a strategic review.

The company revealed Thursday that it will stop operations on Sept. 23, 2026, and advised users to close positions and withdraw funds during the transition period.

“We want to reassure you that your assets remain fully safe and under your control during this transition period,” BitMEX stated in a statement to users.

BitMEX stated its platform helped popularize perpetual swap contracts, a type of crypto derivatives product that allows traders to speculate on asset prices without expiration dates. The company also stated it has maintained a record of no customer funds lost to hacks during its 11 years of operation.

BitMEX did not disclose further details about the factors behind HDR Global Trading Limited’s decision to close the exchange following its strategic review.

Related: SecondFi to wind down after $2.6M ADA theft linked to wallet flaw

The exchange declined to comment further on the factors behind HDR Global Trading Limited’s decision to close the exchange following its strategic review. HDR Global Trading did not immediately respond to a request for comment.

The closure comes as the crypto derivatives market navigates a shifting competitive landscape. Centralized exchange (CEX) perpetual futures volume fell 10% to $12.7 trillion in the second quarter of 2026, as reported by CoinGecko’s latest Crypto Industry Report, while decentralized alternatives such as Hyperliquid rose to become the second-largest perpetuals exchange by open interest, behind only Binance.

This is a developing story and will be updated as more information becomes available.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• BitMEX
• Derivatives
• Cryptocurrency Exchange
• Bitcoin

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