BitMEX exchange to cease operations by September 2026 after 11‑year run
BitMEX announced it will shut down permanently on 23 September 2026 at 04:00 UTC, ending an 11‑year presence in cryptocurrency trading. The Seychelles‑registered exchange, co‑founded in November 2014 by Arthur Hayes, Ben Delo and Samuel Reed, pioneered the crypto perpetual swap and once commanded more than 50 % of the derivatives market, with annual trading volume exceeding $1 trillion.
Regulatory pressure intensified after the U.S. Department of Justice and the Commodity Futures Trading Commission charged the founders in October 2020 for operating an unregistered platform and violating the Bank Secrecy Act. All three pleaded guilty and were later pardoned by President Donald Trump in 2025. Citing a strategic review of business and market conditions, the company halted new registrations, will not accept new positions after 26 August 2026, and will forcibly close remaining contracts after the shutdown date. User assets remain secured under user control, but withdrawals must be completed before the deadline, with possible fees for delayed action.
Entities: Arthur Hayes · Ben Delo · BitMEX · Samuel Reed · U.S. Department of Justice
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] BitMEX will cease all operations on 23 September 2026 at 04:00 UTC. (BitMEX shutdown announcements)
- [● 2 SOURCES] BitMEX was founded in November 2014 by Arthur Hayes, Ben Delo and Samuel Reed. (company history)
- [○ 1 SOURCE] The U.S. DOJ and CFTC charged BitMEX’s founders in October 2020 for operating an unregistered platform and violating the Bank Secrecy Act. (legal action)
- [○ 1 SOURCE] BitMEX’s parent company is HDR Global Trading, which is registered in Seychelles. (company information)
- [○ 1 SOURCE] New account registrations were halted immediately and no new positions will be allowed after 26 August 2026. (company announcement)
- [○ 1 SOURCE] User assets remain secured and under user control; withdrawals must be completed before the shutdown deadline, with possible fees for delayed withdrawals. (user notice)
- [○ 1 SOURCE] All three founders pleaded guilty to Bank Secrecy Act violations and were pardoned by President Donald Trump in 2025. (court records)
- [○ 1 SOURCE] At its peak in 2018‑2019, BitMEX held over 50 % of the crypto derivatives market and processed more than $1 trillion in annual trading volume. (market data)