Shock Decision from BitMEX, Founded by Arthur Hayes: Closure Date Announced

BitMEX, one of the most well-established derivative exchanges in the crypto world, has announced its decision to completely cease operations and permanently close its doors.

Marking an era and founded by Arthur Hayes, BitMEX shared an announcement that sent shockwaves through the cryptocurrency industry. The company reported that it will permanently close the exchange on September 23, 2026, at 07:00 Turkey time (04:00 UTC) and has immediately halted new user registrations. The board of directors of HDR Global Trading Limited, the owner and operator of the platform, stated that they made this difficult decision after evaluating the general state of the industry and their business strategies.

Founded in 2014, the platform made history as the first exchange to launch perpetual futures contracts—meaning trade types without an expiration date—in the cryptocurrency industry. Once the world’s most dominant derivative exchange, the platform lost its market share over time to giant competitors like Binance and Bybit. Legal charges faced in the U.S. in 2020 and the departure of its founders significantly weakened the exchange’s market power.

The End of an Era in the Cryptocurrency Industry

The exchange’s decision to close once again highlights how quickly the cryptocurrency market changes and how intense the competition has become. Once the center of Bitcoin (BTC) trading and a trendsetter for market direction, the platform entered a liquidation process after failing to achieve results from sale negotiations planned for 2025. Users have approximately two months to securely withdraw their assets.

BitMEX management emphasized that this decision was made with great sadness but after a meticulous evaluation. The industry pioneer will now be remembered only as an important part of crypto history. Users need to follow official announcements from the exchange during this process and conclude their transactions according to the planned schedule.