Cryptocurrency exchange BitMEX will permanently shut down its trading platform on September 23, 2026, at 04:00 UTC.
The decision follows a strategic evaluation of the firm and the broader digital asset market.
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BitMart, a rival exchange, is also ceasing operations after nine years due to operational and market conditions. The closures reflect a broader contraction across the cryptocurrency industry.
Shutdown Details
BitMEX has immediately disabled new account registrations. Standard trading operations will continue until August 26.
After that date, risk limits will prevent users from opening new positions, allowing only position reductions before automated final liquidations begin on September 23.
Clients who leave funds on the platform after the shutdown date face a monthly management fee of $50 or 1 percent annually on remaining balances, whichever is higher.
BitMart similarly halted new registrations, deposits, and orders immediately following its announcement. The value of its native BMX token dropped nearly 60 percent.
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Market Context
BitMEX was founded in 2014 by Arthur Hayes, Benjamin Delo, and Samuel Reed.
It pioneered high-leverage perpetual swaps, but its market share recently fell below 0.01 percent according to data cited by Reuters.
The exchange closures arrive as broader market pressures mount.
Bitcoin dropped approximately 54 percent from its peak of $126,000 to $58,000 before recovering to around $64,000.
Industry data shows more than 60 crypto projects have shuttered or announced closures in 2026 due to high operational costs and reduced trading volumes.
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These include decentralized exchange Loopring and venture-backed startup Yupp.
