Summary
- HDR Global Trading, the operator of BitMEX, said it had decided to shut down the company after nearly 12 years in operation.
- BitMEX said it will stop operating the exchange on Sept. 23 and instructed users to close their trading positions and withdraw deposited funds.
- BitMEX was a global crypto derivatives exchange that helped popularize perpetual futures contracts, but it did not disclose the reason for the shutdown or future liquidation procedures.
Forecast Trend Report by Period
BitMEX, a global cryptocurrency derivatives exchange, is set to cease operations after nearly 12 years.
Cointelegraph reported on July 23 that HDR Global Trading, the operator of BitMEX, announced it had decided to shut down the company following a broad strategic review. The exchange will end services about 12 years after it was founded in 2014.
Under the decision, BitMEX will stop operating the exchange on Sept. 23. The company instructed users to close all open trading positions and withdraw funds deposited on the platform before the shutdown.
BitMEX said customer assets would remain fully secure until operations end and asked users to close positions and withdraw funds within the specified period.
BitMEX is considered one of the exchanges that helped drive the early growth of the cryptocurrency derivatives market. It is also credited with helping popularize perpetual futures contracts, which allow investors to bet on cryptocurrency price movements without an expiration date.
The company did not disclose the reason for the shutdown decision or details on future liquidation procedures.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul