Crypto
Home›Crypto›Market Structure›BitMEX to close Sept. 23 after business review
BitMEX to close Sept. 23 after business review
The exchange said customers must close positions and withdraw funds before the Sept. 23 deadline, with Kaiko data showing its market share below 0.01% and daily volume near $400,000.
BitMEX has completed a review of its business and will close on Sept. 23, according to CryptoSlate. The exchange told customers to close their positions and withdraw funds before then.
CryptoSlate reports that the closure announcement did not come with the kinds of market-shaking signals seen in recent crypto failures, such as a balance-sheet hole, a withdrawal freeze, or a bankruptcy filing.
Kaiko data cited by CryptoSlate shows BitMEX's market share below 0.01% and its daily volume near $400,000, positioning the shutdown as an exit tied to scale rather than a disclosed solvency event.
CryptoSlate also notes that BitMEX helped popularize perpetual swaps with XBTUSD launched in May 2016, but other venues, including centralized and decentralized perpetual platforms, increased liquidity in markets BitMEX no longer meaningfully participates in. The outlet frames BitMEX's planned closure as a different kind of headline during bear markets, with traders moving to deeper liquidity elsewhere.