One of crypto’s pioneering derivatives platforms is closing its doors after more than a decade.
BitMEX, the exchange that invented perpetual futures contracts, has notified users it will end all operations by September 23rd after an 11-year run in the industry.
“With immediate effect, we have stopped all new account registrations. Following a strategic review of the business and the broader crypto industry, the board of HDR Global Trading Limited, owner and operator of BitMEX, has decided to close the exchange. This comes with a heavy heart for all of us at the company and has not been taken lightly…
The BitMEX platform has always remained grounded to the true ethos of Bitcoin – neutrality, transparency, and decentralisation, which is evident through our peer-to-peer operations and a top priority focus on user fund safety. While this news is a difficult one to share, we are proud of everything that has been built at the company since its launch as a pioneer of crypto derivatives.”
The shutdown signals further consolidation among crypto derivatives providers, and users are advised to take necessary steps ahead of the final closure date.
No exact reasons beyond the announcement are provided in the initial notice.
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