BitMEX Shuts Down Trading After 11 Years, Urges Users to Withdraw Funds
End of trading after 11 years
BitMEX has shut down its trading operations after 11 years in the crypto market. The exchange, which helped create perpetual futures trading, stopped all trading, deposits, and new positions at 04:00 UTC on Tuesday. Users can still log in and withdraw their funds, but deposits are no longer possible.
Monthly fees for remaining balances
BitMEX is urging customers to withdraw their funds. The exchange says verified accounts with remaining balances will face a monthly fee. The charge is the higher of either an annualized 1% of assets or a $50 minimum payment.
Key facts about the closure
- BitMEX was co-founded by Arthur Hayes, Ben Delo, and Samuel Reed in 2014
- The exchange pioneered perpetual futures, a popular type of crypto derivatives trade
- BitMEX announced its closure in July following a strategic review by parent company HDR Global Trading
- The exchange had reportedly been losing market share in the derivatives market it helped create
- Centralized crypto exchange derivatives volume reached $3.4 trillion in August 2026
What is confirmed
Trading, deposits, and new positions have stopped. Withdrawals remain available. The monthly fee structure for verified accounts has been confirmed. The closure was announced following a strategic review by HDR Global Trading.
Why this matters
BitMEX was one of the original crypto derivatives platforms. It helped establish perpetual futures, which are now among the most traded financial products in the world. The shutdown marks the end of a platform that shaped how traders use crypto derivatives.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.