ChainCatcher report: BitMEX, the renowned derivatives crypto exchange founded by Arthur Hayes, has officially announced it will shut down on September 23 at 04:00 UTC. New user registrations have already been halted, and starting August 26, new positions will be prohibited with a gradual forced liquidation process underway. It is understood that as the pioneer of perpetual contracts, BitMEX faced regulatory action from the U.S. government, leading founder Arthur Hayes to gradually step away from its operations. Over the past few years, BitMEX has unsuccessfully sought acquisition opportunities.
BitMEX to Shut Down on September 23 After Failed Sale Attempts
ChaincatcherShare
Summary
The derivatives exchange BitMEX, founded by Arthur Hayes, will shut down on September 23 at 04:00 UTC. New user registrations and position openings were halted on August 26, with remaining positions being liquidated. The platform, a pioneer in perpetual contracts, failed to find a buyer following U.S. enforcement actions. Traders are advised to evaluate the risk-to-reward ratio before closing their positions. On-chain trading signals indicate reduced activity as the deadline approaches.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.