BitMEX, co-founded by Arthur Hayes, to permanently shut exchange on Sept. 23
AI Market Summary
BitMEX’s planned permanent shutdown removes a legacy venue that pioneered perpetual swaps, potentially shifting derivatives liquidity and market share further toward competing exchanges. While BitMEX is no longer systemically dominant, the exit may still affect trader positioning, funding-rate dispersion, and execution quality during the wind-down period. The development is mainly a market-structure headline rather than a direct macro driver for crypto spot prices.
Impact level
● Medium
Affected assets
BTC/USDT-0.54%
AI Insight · BTC/USDTAI Insight
● Neutral
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BitMEX said it will permanently close its exchange at 04:00 UTC on Sept. 23 and has already stopped accepting new user registrations.
Founded in 2014 and co-founded by Arthur Hayes, BitMEX helped shape crypto derivatives by launching the industry's first perpetual swap. The platform was once among the world's leading derivatives venues before ceding market share to rivals such as Binance and Bybit.
Hayes and his co-founders stepped down in 2020 following U.S. criminal charges. A reported attempt to sell the exchange in 2025 did not lead to any announced deal.
