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BitMEX halts trading and deposits after 11 years, bringing an end to the exchange that pioneered crypto perpetual swaps

AI Market Summary
BitMEX has halted trading and deposits after 11 years, marking the winddown of a legacy derivatives venue that helped popularize perpetual swaps. While withdrawals remain available, the closure may temporarily shift perpetual futures liquidity and order flow to competing exchanges, modestly affecting market microstructure, spreads, and funding dynamics. The event is operational rather than macro, but relevant for leveraged traders managing venue and counterparty exposure.
Impact level
● Medium
Affected assets
BTC/USDT-2.21%
AI Insight · BTC/USDTAI Insight
● Neutral
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BitMEX has shut down trading and deposits as of today, marking the end of its 11-year run and closing the exchange widely credited with inventing crypto perpetual swaps. The company said users can still access their accounts and withdraw funds while the platform completes its winddown.
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