BitMEX to Permanently Shut Down on Sept. 23, 2026
AI Market Summary
BitMEX's planned permanent shutdown (registrations halted; position-opening bans from Aug 26, 2026; forced closures and liquidation at final cutoff) is a negative signal for derivatives-market depth and venue diversification. While operations continue until September 2026 with post-trade custody and withdrawals, the phased risk restrictions and potential liquidity-shortfall early settlements may compress liquidity and widen spreads in related perpetuals, increasing near-term execution and basis risk across majors.
Impact level
● Medium
Affected assets
BTC/USDT-0.57%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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BitMEX said on July 23 that it will permanently close its trading platform on Sept. 23, 2026 at 04:00 UTC, according to Huoxing Finance. The exchange has halted new user registrations with immediate effect.
BitMEX said the decision follows a strategic review of its business and the broader cryptocurrency market. The board of HDR Global Trading Limited, BitMEX's parent company, approved the closure after what it described as careful consideration, and expressed regret over the outcome.
The exchange urged users to close positions and withdraw funds as soon as possible. Trading will continue as normal until the shutdown date, but risk controls will begin at 04:00 UTC on Aug. 26, 2026. From that time, users will be barred from opening new positions and will only be allowed to reduce existing exposure.
BitMEX said it will then progressively force-close remaining positions to facilitate an orderly exit. Any positions still open at the shutdown time will be liquidated immediately. The platform said it will not be responsible for trading losses arising from users' failure to close positions in time.
It added that contracts with insufficient liquidity will be settled early, with advance notice provided in line with standard practice.
After trading ends, BitMEX will stop offering trading services and will retain only custody functions. Users will still be able to log in to view wallet balances and historical transaction records, and continue withdrawing assets.
BitMEX said all BMEX staking has been unwound and the related tokens have been returned to users' accounts.
For users who have completed KYC but have not withdrawn funds by the shutdown time, the exchange will charge an account maintenance fee of $50 per month or 1% annualized on the account balance, whichever is higher. BitMEX said it may raise fees in the future if withdrawals continue to be delayed, and will provide advance notice of any changes.
