BitMEX | Crypto

A Sept. 24 policy update permits identity checks and withdrawals after trading ended, with asset minimums and sanctions rules still in force. The post BitMEX opens fund recovery to customers it previously barred from the platform appeared first on CryptoSlate.

BitMEX officially ended exchange operations after more than 11 years, while withdrawals remain open as the crypto derivatives platform urges users to remove their funds. BitMEX ended all exchange operations at 4:00 UTC on Wednesday, two months after the crypto derivatives exchange announced plans to shut down after more than 11 years of operations. The platform no longer allows trading or deposits, but users can still log in and withdraw remaining balances through its website, BitMEX announced in an X post on Wednesday. As part of its gradual phaseout, BitMEX will disable application programming interface (API) withdrawals on Sept. 28, requiring users to process withdrawals through the web platform. Read more

The Celsius estate alleges BitMEX wrongfully liquidated and seized 6,360 BTC, worth nearly $490 million, during the March 2020 market crash. The Celsius bankruptcy estate sued five BitMEX-linked companies, alleging fraud, market manipulation and wrongful liquidations during the March 2020 market crash.  The complaint was filed on Sept. 12 in the US Bankruptcy Court for the Southern District of New York by Celsius entities acting through estate representative Blockchain Recovery Investment Consortium (BRIC). Defendants include HDR Global Trading, ABS Global Trading, Shine Effort, 100x Holdings and HDR Global Services. The estate alleged that BitMEX wrongfully liquidated and seized 1,325.84 BTC in collateral from Celsius on March 12, 2020, and 5,034.33 BTC from investment fund JST the following day. JST subsequently assigned the related claims to the estate, according to the filing. Read more

Celsius Network’s bankruptcy estate has sued BitMEX over a 2020 liquidation cascade it says cost more than 6,360 Bitcoin. The complaint, filed Sept. 12 in the US Bankruptcy Court for the Southern District of New York, accuses entities behind the crypto derivatives exchange of fraud, market manipulation and wrongful liquidations during Bitcoin’s historic March 2020 […] The post Celsius sues BitMEX for $495 million just 11 days before exchange shutdown appeared first on CryptoSlate.

The UK political party and its leader, Nigel Farage, have accepted contributions from figures tied to the crypto industry, raising questions about potential influence on policies. Records from the UK’s Electoral Commission showed that BitMEX co-founder Ben Delo’s contributions to the country’s Reform party made up about three-quarters of the $7.3 million it received in the second quarter of 2026. As of Thursday, the Electoral Commission showed that Delo had made two separate contributions to Reform UK of 1 million and 3 million pounds — about $1.3 million and $4 million, respectively — in April. While the political party also received significant contributions from entities and individuals between April and June 2026, Delo’s donation amounted to 74% of all funds reported in the second quarter. Source: UK Electoral Commission Read more

New positions stop at 04:00 UTC, while the exchange gains discretion to close existing trades before Sept. 23. The post Traders start losing control of open positions as BitMEX begins its staged shutdown appeared first on CryptoSlate.

Potential buyers, including Exodus, passed on BitMEX amid concerns over founder ownership and its shrinking business, according to a source familiar.

Open orders will be canceled and final positions settled against contract-specific 30-minute indexes at 12:00 UTC. The post BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure fees appeared first on CryptoSlate.

Three centralized exchange platforms exiting within weeks have shifted attention away from individual failures as crypto consolidates. The post Crypto Exchange Shakeout Deepens as BitMEX, BitMart, and AscendEX Exit the Market appeared first on Cryptonews.

The new complaint alleges an internal desk exploited customer data, while BitMEX says the case has no basis. The post Lawsuit claims BitMEX used server freezes and internal trading to seize 622 Bitcoin ahead of its September closure appeared first on CryptoSlate.

Despite support from Goldman Sachs, Fidelity and law enforcement bodies, the Clarity Act’s chances dim. BitMEX to close as crypto consolidates into five big players. Despite wealthy memecoin entrepreneur President Donald Trump agreeing to an ethics deal, the Clarity Act (CLARITY) is floundering as the August recess deadline looms. Senate Majority Leader John Thune said he doesn’t believe the act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.” The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029. Read more

The complaint claims BitMEX designed a system to retain customer collateral and alleges an internal desk accessed private user data during server freezes.

BitMEX completed a review of its business and will close on Sept. 23, telling customers to close their positions and withdraw funds before then. The announcement came with no balance-sheet hole, withdrawal freeze, or bankruptcy filing, with Kaiko data putting BitMEX's market share below 0.01% and its daily volume near $400,000. That combination makes BitMEX's […] The post BitMEX shuts down without an FTX style crisis, revealing where crypto’s real danger has moved appeared first on CryptoSlate.

The proposed class action alleges BitMEX used privileged trading access and server freezes to profit from forced liquidations. BitMEX is facing a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders’ Bitcoin collateral.  On Thursday, BKX Services Inc. and David Namdar filed the complaint in the US District Court for the Southern District of New York. The plaintiffs allege they lost a combined 622.66 BTC through forced liquidations on BitMEX, with BKX claiming losses of at least 305.81 BTC and Namdar alleging losses exceeding 316.85 BTC.  The lawsuit revives long-running allegations about the platform’s internal trading operations and liquidation engine and comes just as the exchange is preparing to close in September.  Read more

BitMEX will have removed 65 derivative contracts and trading pairs in July, compared with just 19 across the first six months of the year. Crypto exchange BitMEX accelerated its delisting of derivative contracts and trading pairs in July due to “insufficient trading interest,” offering a glimpse at declining activity on the platform surrounding its decision to wind down the exchange. BitMEX’s website shows that in early July, it delisted 21 derivative contracts; two weeks later, BitMEX delisted nine spot pairs for lack of trading interest. On Thursday, BitMEX added another 35 derivative contracts to the queue for delisting, totaling 65 delistings in July. Related: BitMEX to shut down after 11 years in crypto derivatives Read more

BitMEX’s shutdown marks the end of one of crypto’s earliest derivatives exchanges as analysts point to rising regulatory costs, market concentration and the shift toward licensed trading venues. The closure of crypto derivatives exchange BitMEX is prompting fresh questions about whether the industry is entering a new phase of consolidation, as analysts point to market-share concentration and rising regulatory costs squeezing smaller platforms. While BitMEX helped pioneer perpetual swaps that became a cornerstone of digital asset derivatives trading, its daily Bitcoin futures volume began declining around May 2021 and never recovered to its 2020 daily peak of between $1 billion and $5 billion, according to data from CryptoQuant. Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise reflects structural pressures facing mid-sized centralized exchanges, where liquidity has increasingly concentrated among the industry’s largest players and regulatory compliance costs continue to rise. He sai...

Reduce-only trading begins Aug. 26, with forced closes possible before exchange services end Sept. 23. The post BitMEX shutdown gives traders 2 months to withdraw, but active positions face an earlier deadline appeared first on CryptoSlate.

BitMEX’s BMEX token plunged about 90% after the exchange announced plans to shut down, ending nearly 12 years in business as its Bitcoin futures market share shrank. [Update, 15:18 UTC, July 23 - Adds comment from cofounder beginning in sixth paragraph.] BitMEX’s utility token lost almost all of its value after the exchange announced Thursday it would wind down operations. The BitMEX (BMEX) token plunged 90% to as low as $0.002 from $0.06, according to CoinGecko data. It traded at $0.0063 at the time of writing. Read more

BitMEX, co-founded by Arthur Hayes in 2014, redefined the global crypto market by introducing the 100x leverage perpetual swap.

BitMEX announced it will shut down operations on Sept. 23, 2026, after owner HDR Global Trading Limited decided to close the crypto exchange. BitMEX, one of the pioneers of cryptocurrency derivatives trading, announced it will shut down operations after owner and operator HDR Global Trading Limited decided to close the company following a strategic review. BitMEX announced Thursday that it will stop exchange services on Sept. 23, 2026, at 04:00 UTC and urged users to close positions and withdraw funds before the deadline. “We want to reassure you that your assets remain fully safe and under your control during this transition period,” BitMEX said in a statement to users. Read more