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[SITUATION] · [ACTIVE]

2 clusters · 39 sources · 3 days · First seen 5 days ago · Last updated 3 days ago

Categories: BUSINESS

BitMEX shutdown and legal actions

Entities: Arthur Hayes · U.S. Department of Justice · Samuel Reed · BitMEX · Ben Delo

Overview

In late July 2026 the cryptocurrency‑derivatives exchange BitMEX announced that it will cease operations on 23 September 2026 at 04:00 UTC. The shutdown follows a strategic review by its Seychelles‑registered parent after years of regulatory scrutiny, including U.S. DOJ and CFTC actions against its founders.

The platform halted new account registrations immediately and moved to a reduce‑only mode from 26 August, forcing the closing of remaining positions before a final forced liquidation on the shutdown date. The announcement prompted a sharp decline in the BMEX token (down over 90 %) and a 96 % drop in Bitcoin open interest on the exchange.

BitMEX was co‑founded in November 2014 by Arthur Hayes, Ben Delo and Samuel Reed. It pioneered the crypto perpetual swap, once commanded more than 50 % of the derivatives market and reported annual trading volume exceeding $1 trillion. After the October 2020 DOJ and CFTC charges, the founders pleaded guilty, were later pardoned by President Donald Trump in 2025, and remain subject to a U.S. class‑action lawsuit filed in the Southern District of New York alleging improper liquidation and insider‑trading practices.

BitMEX has assured users that assets remain under their control and urged prompt withdrawals before the deadline, warning of possible fees for delayed action. Analysts expect remaining volume to migrate to competing platforms with limited broader market disruption.

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] 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)
[○ 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] All three founders pleaded guilty to Bank Secrecy Act violations and were pardoned by President Donald Trump in 2025. (court records)
[○ 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] BitMEX’s parent company is HDR Global Trading, which is registered in Seychelles. (company information)

Timeline

3 days ago

[BUSINESS] 5 sources
BitMEX exchange to cease operations by September 2026 after 11‑year run
BitMEX will close on 23 Sept 2026, ending its 11‑year crypto derivatives run after regulatory pressure; users must withdraw funds before the deadline.
5 days ago

[BUSINESS] 35 sources
BitMEX to close Sept 23 2026, sparking withdrawals and lawsuits
BitMEX will shut down on 23 Sept 2026, urging users to withdraw funds; a U.S. class‑action alleges forced liquidation of 622 BTC and insider trading.

Sources

abmedia.io · assodigitale.it · bitcoin-kurier.de · blockchainreporter.net · blockzeit.com · blogtienao.com · cash.ch · coindoo.com · coinedition.com · coingape.com · cointelegraph.com · criptoinforme.com · crypto-insiders.nl · crypto-news-flash.com · crypto-times.jp · cryptobreaking.com · cryptobriefing.com · cryptonews.com.au · cryptoSlate.com · emerce.nl · en.coin-turk.com · ethnews.com · financemagnates.com · floranews.nl · livebitcoinnews.com · merca2.es · neweconomy.jp · news-krypto.de · news.bitcoin.com · newsbit.nl · nu-vera.com · siamblockchain.com · spacemoney.com.br · susuzlar.com · tekedia.com · themarketperiodical.com · therogueginger.com · timestabloid.com · wdez.com

This summary has been updated 1 time: see revision history