BitMEX Shuts Down Trading on September 23, Marking End for Early Crypto Derivatives Exchange

According to Odaily, crypto derivatives exchange BitMEX announced its closure with trading to end on September 23. Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, the exchange's parent company HDR Global Trading made the decision following a strategic review. BitMEX historically pioneered perpetual contracts as a key product in digital asset derivatives trading.

CryptoQuant data shows BitMEX's Bitcoin futures daily trading volume declined from its 2020 peak of $1–5 billion to significantly lower levels beginning around May 2021. CoinGecko reports BitMEX ranked ninth among derivatives exchanges in August 2023 with a 0.9% market share, but has since fallen outside the top ten perpetual contract exchanges as of 2025.