BitMEX Officially Ends Exchange Services After 12 Years, Leaves Withdrawals Only
Summary
- Global cryptocurrency exchange BitMEX said it has officially ended its exchange services 12 years after launch.
- BitMEX said it halted trading, deposits and new position openings, and will maintain only withdrawal services for existing balances.
- BitMEX urged users with remaining balances to withdraw their assets and said an account management fee will be charged if they continue to hold them on the exchange.
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Global cryptocurrency exchange BitMEX has officially ended its exchange services 12 years after launch.
BitMEX announced on X on Sept. 23 that it was formally shutting down its exchange services. The platform halted trading, deposits and new position openings that day.
Users can now only withdraw existing balances from BitMEX. The exchange said the withdrawal function will remain available during the wind-down process.
BitMEX urged users with remaining balances to withdraw their assets. Users who have completed know-your-customer verification and continue to keep assets on the exchange will be charged an account management fee.
BitMEX was founded in 2014. It is widely credited with helping drive growth in the global crypto derivatives market by becoming the first exchange to launch perpetual futures.
Perpetual futures, which BitMEX helped popularize, are now the most heavily traded derivative product in the crypto market. According to CoinDesk, major centralized exchanges recorded about $3.4 trillion in monthly derivatives trading volume last month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul