{"investigation":{"slug":"bitmex-exchange-closure-september-2026","entity_name":"BitMEX Exchange Closure September 2026","trust_score":26,"severity_base":null,"score_modifier":-4,"confidence":0.87,"status":"published","content_type":"investigation","summary":"On July 23, 2026, HDR Global Trading Limited announced that it would permanently close BitMEX, the crypto derivatives exchange that pioneered the perpetual swap, effective September 23, 2026 at 04:00 UTC. The closure followed a failed sale process and more than $200 million in U.S. civil and criminal penalties from 2020 to 2025. BitMEX describes the closure as a solvent wind-down, with assets exceeding liabilities. Users who miss the withdrawal deadline face ongoing monthly balance fees, and several issues remain open: a proposed class action alleging that liquidation collateral was diverted into the insurance fund, uncertainty over what happens to that fund, and phishing and impersonation scams exploiting the closure.","sections":[{"content":"On July 23, 2026, BitMEX's operator HDR Global Trading Limited announced that the exchange would permanently cease operations on September 23, 2026 at 04:00 UTC, ending an 11-year run. The company cited a 'strategic review of the business and the broader crypto industry' and did not cite insolvency or regulatory compulsion. New account registrations were halted immediately. From August 26, 2026 at 04:00 UTC, risk limits placed the platform in reduce-only mode: users could no longer open new positions and could only reduce or close existing ones. The survivor and shutdown pages say positions still open at the September 23 deadline will be force-settled. The closure page instead describes remaining positions as subject to forced closure between August 26 and the final date, with early settlement procedures for illiquid contracts. BitMEX said it accepts no responsibility for trading losses on positions users fail to close. It urged users to close positions and withdraw promptly, warning that blockchain confirmation times and Bitcoin network congestion could delay withdrawals during the high-volume wind-down.","heading":"Closure Announcement and Wind-Down Timeline","sources":[{"url":"https://www.bitmex.com/blog/bitmex-closure","name":"BitMEX Exchange to Sunset on 23 September at 04:00 UTC - Official BitMEX Blog","type":"official","credibility":1},{"url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23","name":"CoinDesk - BitMEX notifies users that it is shutting down operations after an 11-year run","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/409495/bitmex-to-shut-down-permanently","name":"The Block - BitMEX to shut down permanently 11 years after Arthur Hayes co-founded crypto exchange","type":"news_article","credibility":2},{"url":"https://www.cnbc.com/2026/07/23/cryptocurrency-exchange-bitmex-shut-down.html","name":"CNBC - Cryptocurrency exchange BitMEX to shut down","type":"news_article","credibility":1},{"url":"https://www.kucoin.com/news/flash/bitmex-to-permanently-shut-down-on-september-23-2026","name":"KuCoin News - BitMEX to Permanently Shut Down on September 23, 2026","type":"news_article","credibility":2},{"url":"https://x.com/BitMEX/status/2080201602456301580","name":"Official BitMEX shutdown announcement (X/Twitter)","type":"official","credibility":2}],"severity":"high"},{"content":"KYC-verified users who have not withdrawn by September 23, 2026 will be charged a monthly account maintenance fee of the greater of USD $50 equivalent or 1% per annum of the remaining balance. BitMEX reserves the right to raise the fee with advance notice if funds stay unclaimed, and has not committed to a date after which unclaimed balances would be returned, donated or escheated to a government authority. Accounts remain accessible after closure for balance review and transaction history, and withdrawals remain possible, but the fees steadily erode balances left on the platform. BitMEX says its proof-of-reserves data shows assets exceeding liabilities and that it has never lost customer funds to a hack. The closure is presented as a solvent, orderly wind-down, and no bankruptcy estate or court-supervised claims process has been reported. The shutdown page notes that reporting it reviewed did not support a claim that users face an 'extended manual recovery process from a bankrupt estate'. BitMEX also unstaked all user BMEX tokens and made them available for withdrawal immediately on announcement. Even so, the eight-week window between announcement and closure, shortened in practice by the August 26 reduce-only cutoff, poses a material risk of loss for users who are inactive, hard to contact, or unfamiliar with the process.","heading":"User Fund Risk: Withdrawal Deadline and Post-Closure Fees","sources":[{"url":"https://www.bitmex.com/blog/bitmex-closure","name":"BitMEX Exchange to Sunset on 23 September at 04:00 UTC - Official BitMEX Blog","type":"official","credibility":1},{"url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23","name":"CoinDesk - BitMEX notifies users that it is shutting down operations after an 11-year run","type":"news_article","credibility":2},{"url":"https://cryptodaily.co.uk/2026/07/bitmex-closure-withdraw-funds","name":"Crypto Daily - BitMEX Closure: How to Withdraw Funds Before September 23","type":"news_article","credibility":2},{"url":"https://www.kucoin.com/blog/bitmex-to-shutdown-in-september-2026","name":"KuCoin - BitMEX to Shutdown in September 2026: What Happens to Its $270M Insurance Fund?","type":"news_article","credibility":2},{"url":"https://neobanque.ch/blog/bitmex-closure-2026/","name":"Neobanque - BitMEX Shuts Down: Key Dates and Where to Move Funds","type":"news_article","credibility":3},{"url":"https://www.theblock.co/post/409495/bitmex-to-shut-down-permanently","name":"The Block - BitMEX to shut down permanently 11 years after Arthur Hayes co-founded crypto exchange","type":"news_article","credibility":2},{"url":"https://www.cnbc.com/2026/07/23/cryptocurrency-exchange-bitmex-shut-down.html","name":"CNBC - Cryptocurrency exchange BitMEX to shut down","type":"news_article","credibility":1}],"severity":"high"},{"content":"BitMEX has explicitly warned users about phishing attempts tied to the closure. It says it offers no expedited or priority withdrawal service and that any such offer should be treated as fraudulent, and it has added enhanced withdrawal review procedures. The California Department of Financial Protection and Innovation's Crypto Scam Tracker separately lists at least one fraudulent platform impersonating BitMEX under a lookalike domain (bitaeqcke.net). The site allegedly lured victims into depositing funds and then demanded a 'tax profit' fee of more than $30,000 before allowing withdrawals, a pattern typical of pig-butchering withdrawal-fee scams. Urgency, anxiety about funds and unfamiliarity with the wind-down make spoofed emails, lookalike sites and fake 'expedited withdrawal' links a foreseeable risk for displaced users. Users should deal only through the official bitmex.com domain. As of the source pages, no regulator or researcher had measured how widespread scams tied to this shutdown are.","heading":"Phishing and Impersonation Risk","sources":[{"url":"https://www.bitmex.com/blog/bitmex-closure","name":"BitMEX Exchange to Sunset on 23 September at 04:00 UTC - Official BitMEX Blog","type":"official","credibility":1},{"url":"https://phemex.com/news/article/bitmex-to-cease-operations-on-september-23-halts-new-registrations-94312","name":"Phemex News - BitMEX to Cease Operations on September 23","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/409495/bitmex-to-shut-down-permanently","name":"The Block - BitMEX to shut down permanently 11 years after Arthur Hayes co-founded crypto exchange","type":"news_article","credibility":2},{"url":"https://dfpi.ca.gov/consumers/crypto/crypto-scam-tracker/bitaeqcke-net-home-tab-fraudulent-platform-impersonating-bitmex/","name":"bitaeqcke.net - Home Tab (Fraudulent Platform Impersonating BitMEX) - California DFPI Crypto Scam Tracker","type":"regulatory","credibility":1}],"severity":"high"},{"content":"When the closure was announced, BitMEX's insurance fund held approximately 3,694.6 BTC and 30.84 million USDT, reported as worth about $270 million. Reports differ sharply on the value: Protos and KuCoin put it near $270 million, while a Bloomberg newsletter in early August 2026 described it as a '$3 billion fund'; the closure page suggests the Bloomberg figure may reflect a different Bitcoin price. The fund belongs to BitMEX's operating entity, not to customers, and was built mainly from excess collateral recovered in customer liquidations rather than from premiums paid into a segregated pool. BitMEX has not disclosed what it will do with the fund after closure and declined to comment to Bloomberg. Flashbots strategic lead Hasu has written that the fund's structure, with no segregated accounts, no defined upper limit and no clear protocol for excess assets, may have complicated both the sale talks and the closure; these issues were reportedly present as early as 2018. In November 2025 BitMEX cut the fund from about 13,000-14,000 BTC to about 3,600 BTC, saying the change better reflected current market risks. It has not publicly explained where the removed BTC went.","heading":"Insurance Fund: Ownership and Disposition","sources":[{"url":"https://protos.com/inside-the-mystery-of-bitmexs-insurance-fund/","name":"Protos - Inside the mystery of BitMEX's insurance fund","type":"news_article","credibility":2},{"url":"https://protos.com/bitmex-to-close-but-what-about-its-270m-insurance-fund/","name":"Protos - BitMEX to close, but what about its $270M insurance fund?","type":"news_article","credibility":2},{"url":"https://www.bloomberg.com/news/newsletters/2026-08-04/what-happens-to-bitmex-s-3-billion-fund-once-the-exchange-sunsets","name":"Bloomberg - What Happens to BitMEX's $3 Billion Fund Once the Exchange Sunsets","type":"news_article","credibility":1},{"url":"https://www.kucoin.com/news/flash/flashbots-executive-bitmex-insurance-fund-structure-may-have-led-to-closure","name":"KuCoin - Flashbots Executive: BitMEX Insurance Fund Structure May Have Led to Closure","type":"news_article","credibility":2},{"url":"https://www.kucoin.com/news/flash/hasu-bitmex-s-insurance-fund-structural-and-legal-issues-hinder-sale-and-closure","name":"KuCoin - Hasu: BitMEX's Insurance Fund Structural and Legal Issues Hinder Sale and Closure","type":"news_article","credibility":2},{"url":"https://www.bitmex.com/blog/insurance-fund-changes","name":"BitMEX Insurance Rebalancing - BitMEX Official Blog","type":"official","credibility":1},{"url":"https://www.kucoin.com/blog/bitmex-to-shutdown-in-september-2026","name":"KuCoin - BitMEX to Shutdown in September 2026: What Happens to Its $270M Insurance Fund?","type":"news_article","credibility":2}],"severity":"high"},{"content":"On July 23, 2026, the day of the closure announcement, plaintiffs BKX Services and David Namdar filed a proposed class action against BitMEX and co-founders Arthur Hayes, Benjamin Delo and Samuel Reed. The complaint alleges that BitMEX designed its liquidation system to keep excess customer collateral and route it into the insurance fund instead of returning it to liquidated users. BKX Services claims losses of at least 305.81 BTC and Namdar more than 316.85 BTC, a combined 622.66 BTC worth about $40 million at filing. The complaint also alleges that an internal BitMEX trading desk had access to private customer order-flow information and kept trading during server outages that stopped other users from closing positions. These are allegations at the complaint stage, and no court has ruled on the merits. A similar proposed class action filed in 2020 over related liquidation allegations was closed in June 2025 without a ruling on the merits.","heading":"Proposed Class-Action Lawsuit (July 2026)","sources":[{"url":"https://www.coindesk.com/business/2026/07/24/bitmex-faces-proposed-class-action-suit-for-theft-insider-trading-as-crypto-exchange-shuts-down","name":"CoinDesk - Crypto exchange BitMEX sued for 623 bitcoin as it prepares to shut down","type":"court_filing","credibility":1},{"url":"https://bitcoinfoundation.org/news/crypto-exchanges-news/bitmex-lawsuit/","name":"Bitcoin Foundation News - BitMEX Faces $40M Class Action Over Alleged Bitcoin Theft","type":"news_article","credibility":2},{"url":"https://en.cryptonomist.ch/2026/07/24/bitmex-liquidation-lawsuit-claims/","name":"Cryptonomist - BitMEX Liquidation Lawsuit Claims Insider Trading Abuse","type":"news_article","credibility":2}],"severity":"high"},{"content":"In October 2020, the U.S. Department of Justice (SDNY) indicted co-founders Arthur Hayes, Benjamin Delo and Samuel Reed, along with employee Gregory Dwyer, for willfully failing to establish anti-money laundering and know-your-customer programs in violation of the Bank Secrecy Act, even though the exchange served U.S. customers while requiring only an email address to trade. The same day, the CFTC filed a civil action alleging BitMEX operated an unregistered derivatives platform and served U.S. customers in breach of CFTC rules. The founders then stepped back from executive roles. Reports differ on the period covered: from at least November 2014 through 2020 according to the closure page, and 2015 to 2020 according to the shutdown page.\n\nOn August 10, 2021, FinCEN and the CFTC announced a combined $100 million civil settlement with BitMEX's operating entities: $50 million to each agency, with $20 million suspended pending remediation. FinCEN found that BitMEX had processed at least $209 million in transactions with known darknet markets or mixing services, failed to file Suspicious Activity Reports on at least 588 transactions, and let senior leadership alter customer records to hide U.S. connections.\n\nHayes and Delo pleaded guilty to Bank Secrecy Act violations on February 24, 2022, and Reed on March 9, 2022. Hayes was sentenced on May 20, 2022 to two years' probation with six months of home confinement, Delo to 30 months' probation, and Reed to a similar probationary term, all by U.S. District Judge John G. Koeltl. Dwyer also pleaded guilty and was sentenced. In May 2022 the CFTC obtained a court order requiring the three founders to pay a combined $30 million civil penalty. Pages describe the individual payments differently: the survivor and shutdown pages say each founder also agreed to a $10 million criminal fine, while the closure page describes the $10 million per founder as the CFTC civil penalty making up the $30 million.\n\nOn July 10, 2024, HDR Global Trading Limited pleaded guilty to a Bank Secrecy Act violation covering 2015 to 2020. On January 15, 2025, Judge Koeltl sentenced the company to a $100 million criminal fine and two years' probation. That was less than the $417 million prosecutors sought and below the $231-471 million sentencing guideline range, and it brought company-level penalties to about $210 million. On March 28, 2025, President Donald Trump granted full and unconditional pardons to Hayes, Delo, Reed and Dwyer. According to the shutdown page, the pardons also covered the corporate entity that owned and operated BitMEX.","heading":"Regulatory History and Cumulative Penalties","sources":[{"url":"https://www.cftc.gov/PressRoom/PressReleases/8270-20","name":"CFTC - CFTC Charges BitMEX Owners with Illegally Operating a Cryptocurrency Derivatives Trading Platform","type":"regulatory","credibility":1},{"url":"https://www.fincen.gov/news/news-releases/fincen-announces-100-million-enforcement-action-against-unregistered-futures","name":"FinCEN - $100 Million Enforcement Action Against BitMEX for BSA Violations","type":"regulatory","credibility":1},{"url":"https://www.cftc.gov/PressRoom/PressReleases/8412-21","name":"CFTC - Federal Court Orders BitMEX to Pay $100 Million","type":"regulatory","credibility":1},{"url":"https://www.cftc.gov/PressRoom/PressReleases/8522-22","name":"CFTC - Federal Court Orders BitMEX's Three Co-Founders to Pay a Total of $30 Million","type":"regulatory","credibility":1},{"url":"https://www.justice.gov/usao-sdny/pr/founders-cryptocurrency-exchange-plead-guilty-bank-secrecy-act-violations","name":"DOJ SDNY - Founders Plead Guilty to Bank Secrecy Act Violations","type":"court_filing","credibility":1},{"url":"https://justice.gov/usao-sdny/pr/third-founder-cryptocurrency-exchange-pleads-guilty-bank-secrecy-act-violations","name":"DOJ SDNY - Third founder of cryptocurrency exchange pleads guilty to Bank Secrecy Act violations","type":"regulatory","credibility":1},{"url":"https://www.coindesk.com/policy/2022/02/24/bitmex-founders-arthur-hayes-ben-delo-plead-guilty-to-violating-us-law","name":"CoinDesk - BitMEX Founders Arthur Hayes, Ben Delo Plead Guilty to Violating US Law","type":"news_article","credibility":2},{"url":"https://complianceconcourse.willkie.com/articles/news-alerts-2022-06-june-20220619-bitmex-executive-sentenced-to-30-months/","name":"Willkie Compliance Concourse - BitMEX executive sentenced to 30 months' probation","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/policy/2024/07/10/crypto-exchange-bitmex-pleads-guilty-to-violating-the-bank-secrecy-act-from-2015-to-2020","name":"CoinDesk - Crypto Exchange BitMEX Pleads Guilty to Violating the Bank Secrecy Act From 2015 to 2020","type":"news_article","credibility":1},{"url":"https://www.justice.gov/usao-sdny/pr/global-cryptocurrency-exchange-bitmex-fined-100-million-violating-bank-secrecy-act","name":"DOJ SDNY - Global Cryptocurrency Exchange BitMEX Fined $100 Million For Violating Bank Secrecy Act","type":"regulatory","credibility":1},{"url":"https://www.bloomberg.com/news/articles/2025-01-15/bitmex-fined-100-million-for-violating-us-bank-secrecy-act","name":"Bloomberg - BitMEX Fined $100 Million for Violating US Bank Secrecy Act (January 2025)","type":"news_article","credibility":1},{"url":"https://finance.yahoo.com/news/bitmex-fined-additional-100-million-080833670.html","name":"Yahoo Finance - BitMEX Fined Additional $100 Million for Violating U.S. Bank Secrecy Act, Bringing Total Penalty to $210 Million","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/policy/2025/03/28/president-trump-pardons-arthur-hayes-2-other-bitmex-co-founders-cnbc","name":"CoinDesk - President Trump Pardons Arthur Hayes, 3 Other BitMEX Co-Founders and Employee","type":"news_article","credibility":2},{"url":"https://www.bloomberg.com/news/articles/2025-03-28/trump-pardons-bitmex-co-founders-arthur-hayes-benjamin-delo-and-samuel-reed","name":"Bloomberg - Trump Pardons BitMEX Co-Founders Arthur Hayes, Benjamin Delo and Samuel Reed","type":"news_article","credibility":1},{"url":"https://www.cnbc.com/2025/03/28/trump-pardon-bitmex-crypto-exchange-money-laundering.html","name":"CNBC - Trump pardons three BitMEX crypto exchange co-founders, and ex-employee","type":"news_article","credibility":1}],"severity":"critical"},{"content":"BitMEX hired boutique investment bank Broadhaven Capital Partners to run a sale, reportedly aiming for a valuation of about $1 billion. The Block first reported the engagement, and CoinDesk reported in February 2025 that BitMEX was looking for a buyer. Reports differ on timing: the survivor page says Broadhaven was engaged in late 2024 and the sale began in early 2025; the closure page says the bank was retained in early 2025 and that BitMEX spent about two years exploring a sale; the shutdown page says BitMEX had sought a buyer since at least February 2025. Prospective buyers reportedly included rival exchanges and the payments platform Exodus. According to CoinDesk, the sale failed for two reasons. First, the co-founders reportedly still controlled a large majority of the equity despite leaving day-to-day management after the 2020 charges, which at least one buyer found untenable. Second, trading volumes kept falling during the talks. Buyers reportedly rejected the $1 billion valuation. With no buyer found, HDR Global Trading Limited's board decided to wind the exchange down. Hasu has also suggested that the insurance fund's structure complicated the sale (see Insurance Fund).","heading":"Failed Sale Process","sources":[{"url":"https://www.theblock.co/post/343829/crypto-exchange-bitmex-seeks-buyer-taps-broadhaven-capital-partners-to-help-with-sale-report","name":"The Block - Crypto exchange BitMEX seeks buyer, taps Broadhaven Capital Partners","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/business/2025/02/27/crypto-trading-platform-bitmex-is-looking-for-a-buyer-sources","name":"CoinDesk - Crypto Trading Platform BitMEX Is Looking for a Buyer","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/business/2026/07/31/bitmex-sale-collapsed-as-buyers-balked-at-founder-ownership-and-shrinking-business","name":"CoinDesk - BitMEX sale collapsed as buyers balked at founder ownership and shrinking business","type":"news_article","credibility":1},{"url":"https://crypto.news/bitmex-spent-two-years-seeking-buyer-before-shutdown/","name":"Crypto.news - BitMEX spent two years seeking buyer before shutdown","type":"news_article","credibility":2},{"url":"https://www.tronweekly.com/bitmex-sale-fails-as-buyers-reject-1-billion/","name":"Tron Weekly - BitMEX Sale Fails As Buyers Reject $1 Billion Valuation Amid Decline","type":"news_article","credibility":3},{"url":"https://www.techtimes.com/articles/321478/20260724/bitmex-exchange-shuts-down-september-23-after-200m-fines-failed-sale.htm","name":"TechTimes - BitMEX Exchange Shuts Down September 23 After $200M in Fines and Failed Sale","type":"news_article","credibility":2}],"severity":"medium"},{"content":"BMEX, the exchange token launched in 2022 with a deflationary burn model funded by trading fees, fell roughly 90-92% within hours of the July 23, 2026 announcement, from about $0.06 to as low as $0.002. Selling began around 07:00 UTC, about an hour before the official announcement, which suggests some market participants knew or inferred the closure in advance. At the post-announcement low, BMEX's market capitalization was estimated at about $497,000. The closure makes the fee-funded burn mechanism worthless. BMEX was already trading about 98% below its price a year earlier. BitMEX unstaked all staked BMEX and made it immediately available for withdrawal.","heading":"BMEX Token Collapse","sources":[{"url":"https://cryptobriefing.com/bitmex-bmex-token-plunges-exchange-shutdown/","name":"Crypto Briefing - BitMEX's $BMEX Token Plunges 98% as Exchange Announces Permanent Shutdown","type":"news_article","credibility":2},{"url":"https://www.kucoin.com/news/flash/bitmex-platform-token-bmex-plummets-92-05-to-0-004757","name":"KuCoin - BitMEX Platform Token BMEX Drops 92.05%","type":"news_article","credibility":2},{"url":"https://financefeeds.com/bmex-token-crashes-90-as-bitmex-shuts-down-after-exploring-1b-sale/","name":"Finance Feeds - BMEX Token Crashes 90% as BitMEX Shuts Down After Exploring $1B Sale","type":"news_article","credibility":2},{"url":"https://finance.yahoo.com/markets/crypto/articles/bmex-price-falls-90-bitmex-132302920.html","name":"Yahoo Finance - BMEX Price Falls 90% as BitMEX Shutdown Hands Market to Rivals","type":"news_article","credibility":2}],"severity":"high"},{"content":"Arthur Hayes, Benjamin Delo and Samuel Reed founded BitMEX in 2014 under HDR Global Trading Limited, which is incorporated in the Seychelles. Live trading began on November 24, 2014. On May 13, 2016 BitMEX launched the XBTUSD perpetual swap, which became the dominant instrument for leveraged crypto speculation and was widely copied across the industry. The exchange offered up to 100x leverage on its flagship product. BitMEX says it never lost customer funds to a hack or exploit. Its position weakened from 2020 onward under regulatory proceedings, leadership departures and competition from Binance, Bybit, OKX and decentralized derivatives venues. Monthly futures volume, which exceeded $100 billion at the 2020-2021 peak, fell to about $25-30 billion by late 2024 and to a fraction of that by mid-2026. Its share of perpetual futures fell from 0.9% (ninth place) in August 2023 to outside the top ten by 2025. By mid-2026 it traded about $84 million a day in Bitcoin futures, roughly 0.08% of the market, according to data cited by CoinDesk. Meanwhile the overall perpetual swap market reached a record $86.2 trillion in annual volume in 2026 (CoinGecko), and decentralized perpetual exchanges grew from about 2% of the market in 2024 to a peak of 12% in November 2025. The closure is expected to push derivatives market share further toward Binance, Hyperliquid and other leading venues.","heading":"Background, Market Context and Competitive Decline","sources":[{"url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23","name":"CoinDesk - BitMEX notifies users that it is shutting down operations after an 11-year run","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/markets/2024/12/11/as-bit-mex-turns-10-the-market-is-still-thankful-for-the-perpetual-swap","name":"CoinDesk - As BitMEX Turns 10, the Market Is Still Thankful for the Perpetual Swap","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/409495/bitmex-to-shut-down-permanently","name":"The Block - BitMEX to shut down permanently 11 years after Arthur Hayes co-founded crypto exchange","type":"news_article","credibility":2},{"url":"https://cryptobriefing.com/bitmex-shuts-down-crypto-consolidation/","name":"Crypto Briefing - BitMEX Shuts Down as Analysts Warn of Accelerating Crypto Consolidation","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/343829/crypto-exchange-bitmex-seeks-buyer-taps-broadhaven-capital-partners-to-help-with-sale-report","name":"The Block - Crypto exchange BitMEX seeks buyer, taps Broadhaven Capital Partners","type":"news_article","credibility":2},{"url":"https://www.coingecko.com/research/publications/state-of-crypto-perpetuals-report-2026","name":"State of Crypto Perpetuals Report 2026 - CoinGecko","type":"research","credibility":2},{"url":"https://pro.edgex.exchange/en-US/news/article/bitmex-trading-shutdown-crypto-derivatives-shift","name":"EdgeX - BitMEX Shutdown Highlights Crypto Derivatives Consolidation Pressures","type":"news_article","credibility":3},{"url":"https://www.bitmex.com/blog/bitmex-closure","name":"BitMEX Exchange to Sunset on 23 September at 04:00 UTC - Official BitMEX Blog","type":"official","credibility":1}],"severity":"low"}],"timeline":[{"date":"2014","event":"BitMEX founded by Arthur Hayes, Benjamin Delo and Samuel Reed, with HDR Global Trading Limited as parent entity.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23"},{"date":"2014-11","event":"BitMEX launches live trading.","source":"The Block","source_url":"https://www.theblock.co/post/409495/bitmex-to-shut-down-permanently"},{"date":"2016-05","event":"BitMEX introduces the XBTUSD perpetual swap contract, which becomes its flagship product and an industry standard.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2024/12/11/as-bit-mex-turns-10-the-market-is-still-thankful-for-the-perpetual-swap"},{"date":"2020-10","event":"The DOJ (SDNY) indicts Hayes, Delo, Reed and Dwyer on Bank Secrecy Act charges, and the CFTC files a parallel civil action. The founders step back from executive roles.","source":"CFTC Press Release","source_url":"https://www.cftc.gov/PressRoom/PressReleases/8270-20"},{"date":"2021-08","event":"FinCEN and the CFTC announce a combined $100 million civil settlement with BitMEX. FinCEN documents at least $209M in transactions with darknet markets or mixers and 588 unfiled Suspicious Activity Reports.","source":"FinCEN Press Release","source_url":"https://www.fincen.gov/news/news-releases/fincen-announces-100-million-enforcement-action-against-unregistered-futures"},{"date":"2022-02","event":"Co-founders Arthur Hayes and Benjamin Delo plead guilty to Bank Secrecy Act violations.","source":"CoinDesk","source_url":"https://www.coindesk.com/policy/2022/02/24/bitmex-founders-arthur-hayes-ben-delo-plead-guilty-to-violating-us-law","date_evidence":"In February 2022, Arthur Hayes and Benjamin Delo pled guilty to violating the BSA"},{"date":"2022-03-09","event":"Third co-founder Samuel Reed pleads guilty to the same Bank Secrecy Act charge.","source":"DOJ SDNY press release","source_url":"https://justice.gov/usao-sdny/pr/third-founder-cryptocurrency-exchange-pleads-guilty-bank-secrecy-act-violations","date_evidence":"on March 9, 2022, the third co-founder, Samuel Reed, pled guilty to violating the Bank Secrecy Act"},{"date":"2022-05","event":"Federal court orders the three co-founders to pay a combined $30 million civil penalty to the CFTC.","source":"CFTC Press Release","source_url":"https://www.cftc.gov/PressRoom/PressReleases/8522-22"},{"date":"2022-05-20","event":"Arthur Hayes is sentenced to two years' probation with six months of home confinement.","source":"Willkie Compliance Concourse","source_url":"https://complianceconcourse.willkie.com/articles/news-alerts-2022-06-june-20220619-bitmex-executive-sentenced-to-30-months/","date_evidence":"Hayes was sentenced to two years' probation, with home confinement for six months, imposed on May 20, 2022"},{"date":"2024-07","event":"HDR Global Trading Limited, BitMEX's corporate operator, pleads guilty to a Bank Secrecy Act violation covering 2015-2020.","source":"CoinDesk","source_url":"https://www.coindesk.com/policy/2024/07/10/crypto-exchange-bitmex-pleads-guilty-to-violating-the-bank-secrecy-act-from-2015-to-2020"},{"date":"2025-01-15","event":"Judge John G. Koeltl sentences HDR Global Trading Limited to a $100 million criminal fine and two years' probation, bringing company-level penalties to about $210 million.","source":"DOJ SDNY / Yahoo Finance","source_url":"https://finance.yahoo.com/news/bitmex-fined-additional-100-million-080833670.html","date_evidence":"On January 15, 2025, BitMEX was ordered to pay an additional $100 million fine for violating the U.S. Bank Secrecy Act"},{"date":"2025-02","event":"CoinDesk reports that BitMEX is seeking a buyer with the help of Broadhaven Capital Partners, reportedly targeting a valuation near $1 billion.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2025/02/27/crypto-trading-platform-bitmex-is-looking-for-a-buyer-sources"},{"date":"2025-03","event":"President Trump grants full and unconditional pardons to Hayes, Delo, Reed and Dwyer. The shutdown page says the corporate entity was also pardoned.","source":"Bloomberg","source_url":"https://www.bloomberg.com/news/articles/2025-03-28/trump-pardons-bitmex-co-founders-arthur-hayes-benjamin-delo-and-samuel-reed","date_evidence":"Trump pardons BitMEX co-founders, White House official says March 28"},{"date":"2025-06","event":"A 2020 proposed class action over BitMEX liquidation practices is closed without a ruling on the merits.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/07/24/bitmex-faces-proposed-class-action-suit-for-theft-insider-trading-as-crypto-exchange-shuts-down"},{"date":"2025-11","event":"BitMEX cuts its insurance fund from about 13,000-14,000 BTC to about 3,600 BTC without publicly explaining where the removed BTC went.","source":"BitMEX Official Blog / Protos","source_url":"https://protos.com/inside-the-mystery-of-bitmexs-insurance-fund/"},{"date":"2026-07","event":"HDR Global Trading Limited announces BitMEX will close permanently on September 23, 2026 at 04:00 UTC and halts new registrations. BMEX falls about 90-92% within hours, and a proposed class action over liquidations is filed the same day.","source":"BitMEX Official Blog","source_url":"https://www.bitmex.com/blog/bitmex-closure"},{"date":"2026-07","event":"CoinDesk reports that the sale collapsed after prospective buyers, including Exodus, balked at founder equity concentration and falling volumes.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/07/31/bitmex-sale-collapsed-as-buyers-balked-at-founder-ownership-and-shrinking-business"},{"date":"2026-08","event":"Bloomberg examines the fate of BitMEX's insurance fund; the exchange declines to comment on plans for the remaining balance.","source":"Bloomberg","source_url":"https://www.bloomberg.com/news/newsletters/2026-08-04/what-happens-to-bitmex-s-3-billion-fund-once-the-exchange-sunsets"},{"date":"2026-08","event":"Reduce-only period begins at 04:00 UTC on August 26: users can no longer open new positions and can only reduce or close existing ones.","source":"BitMEX Official Blog","source_url":"https://www.bitmex.com/blog/bitmex-closure"},{"date":"2026-09","event":"Scheduled final closure at 04:00 UTC on September 23: remaining open positions to be force-settled, and monthly balance fees begin for KYC-verified users who have not withdrawn.","source":"BitMEX Official Blog","source_url":"https://www.bitmex.com/blog/bitmex-closure"}],"sources_used":[{"url":"https://www.bitmex.com/blog/bitmex-closure","name":"BitMEX Exchange to Sunset on 23 September at 04:00 UTC - Official BitMEX Blog","type":"official","archive_url":"http://web.archive.org/web/20260802225237/https://www.bitmex.com/blog/bitmex-closure","credibility":1,"archive_timestamp":"2026-08-02T22:52:37+00:00"},{"url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23","name":"CoinDesk - BitMEX notifies users that it is shutting down operations after an 11-year run","type":"news_article","archive_url":"http://web.archive.org/web/20260726071229/https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23","credibility":2,"archive_timestamp":"2026-07-26T07:12:29+00:00"},{"url":"https://www.theblock.co/post/409495/bitmex-to-shut-down-permanently","name":"The Block - BitMEX to shut down permanently 11 years after Arthur Hayes co-founded crypto exchange","type":"news_article","archive_url":"http://web.archive.org/web/20260729170155/https://www.theblock.co/post/409495/bitmex-to-shut-down-permanently","credibility":2,"archive_timestamp":"2026-07-29T17:01:55+00:00"},{"url":"https://www.cnbc.com/2026/07/23/cryptocurrency-exchange-bitmex-shut-down.html","name":"CNBC - Cryptocurrency exchange BitMEX to shut down","type":"news_article","archive_url":"http://web.archive.org/web/20260825013245/https://www.cnbc.com/2026/07/23/cryptocurrency-exchange-bitmex-shut-down.html","credibility":1,"archive_timestamp":"2026-08-25T01:32:45+00:00"},{"url":"https://x.com/BitMEX/status/2080201602456301580","name":"Official BitMEX shutdown announcement (X/Twitter)","type":"official","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://www.kucoin.com/news/flash/bitmex-to-permanently-shut-down-on-september-23-2026","name":"KuCoin News - BitMEX to Permanently Shut Down on September 23, 2026","type":"news_article","archive_url":"https://web.archive.org/web/20261002104921/https://www.kucoin.com/news/flash/bitmex-to-permanently-shut-down-on-september-23-2026","credibility":2,"archive_timestamp":"2026-10-02T10:49:21+00:00"},{"url":"https://cryptodaily.co.uk/2026/07/bitmex-closure-withdraw-funds","name":"Crypto Daily - BitMEX Closure: How to Withdraw Funds Before September 23","type":"news_article","archive_url":"https://web.archive.org/web/20261002054959/https://cryptodaily.co.uk/2026/07/bitmex-closure-withdraw-funds","credibility":2,"archive_timestamp":"2026-10-02T05:49:59+00:00"},{"url":"https://www.kucoin.com/blog/bitmex-to-shutdown-in-september-2026","name":"KuCoin - BitMEX to Shutdown in September 2026: What Happens to Its $270M Insurance Fund?","type":"news_article","archive_url":"http://web.archive.org/web/20260913011047/https://www.kucoin.com/blog/bitmex-to-shutdown-in-september-2026","credibility":2,"archive_timestamp":"2026-09-13T01:10:47+00:00"},{"url":"https://neobanque.ch/blog/bitmex-closure-2026/","name":"Neobanque - BitMEX Shuts Down: Key Dates and Where to Move Funds","type":"news_article","archive_url":"https://web.archive.org/web/20261002130442/https://neobanque.ch/blog/bitmex-closure-2026/","credibility":3,"archive_timestamp":"2026-10-02T13:04:42+00:00"},{"url":"https://phemex.com/news/article/bitmex-to-cease-operations-on-september-23-halts-new-registrations-94312","name":"Phemex News - BitMEX to Cease Operations on September 23","type":"news_article","archive_url":"http://web.archive.org/web/20260801001125/https://phemex.com/news/article/bitmex-to-cease-operations-on-september-23-halts-new-registrations-94312","credibility":2,"archive_timestamp":"2026-08-01T00:11:25+00:00"},{"url":"https://dfpi.ca.gov/consumers/crypto/crypto-scam-tracker/bitaeqcke-net-home-tab-fraudulent-platform-impersonating-bitmex/","name":"bitaeqcke.net - Home Tab (Fraudulent Platform Impersonating BitMEX) - California DFPI Crypto Scam Tracker","type":"regulatory","archive_url":"http://web.archive.org/web/20260123173950/https://dfpi.ca.gov/consumers/crypto/crypto-scam-tracker/bitaeqcke-net-home-tab-fraudulent-platform-impersonating-bitmex/","credibility":1,"archive_timestamp":"2026-01-23T17:39:50+00:00"},{"url":"https://protos.com/inside-the-mystery-of-bitmexs-insurance-fund/","name":"Protos - Inside the mystery of BitMEX's insurance fund","type":"news_article","archive_url":"http://web.archive.org/web/20260730143655/https://protos.com/inside-the-mystery-of-bitmexs-insurance-fund/","credibility":2,"archive_timestamp":"2026-07-30T14:36:55+00:00"},{"url":"https://protos.com/bitmex-to-close-but-what-about-its-270m-insurance-fund/","name":"Protos - BitMEX to close, but what about its $270M insurance fund?","type":"news_article","archive_url":"https://web.archive.org/web/20260914050721/https://protos.com/bitmex-to-close-but-what-about-its-270m-insurance-fund/","credibility":2,"archive_timestamp":"2026-09-14T05:07:21+00:00"},{"url":"https://www.bloomberg.com/news/newsletters/2026-08-04/what-happens-to-bitmex-s-3-billion-fund-once-the-exchange-sunsets","name":"Bloomberg - What Happens to BitMEX's $3 Billion Fund Once the Exchange Sunsets","type":"news_article","archive_url":null,"credibility":1,"archive_timestamp":null},{"url":"https://www.kucoin.com/news/flash/flashbots-executive-bitmex-insurance-fund-structure-may-have-led-to-closure","name":"KuCoin - Flashbots Executive: BitMEX Insurance Fund Structure May Have Led to Closure","type":"news_article","archive_url":"https://web.archive.org/web/20260914050951/https://www.kucoin.com/news/flash/flashbots-executive-bitmex-insurance-fund-structure-may-have-led-to-closure","credibility":2,"archive_timestamp":"2026-09-14T05:09:51+00:00"},{"url":"https://www.kucoin.com/news/flash/hasu-bitmex-s-insurance-fund-structural-and-legal-issues-hinder-sale-and-closure","name":"KuCoin - Hasu: BitMEX's Insurance Fund Structural and Legal Issues Hinder Sale and Closure","type":"news_article","archive_url":"https://web.archive.org/web/20260914050926/https://www.kucoin.com/news/flash/hasu-bitmex-s-insurance-fund-structural-and-legal-issues-hinder-sale-and-closure","credibility":2,"archive_timestamp":"2026-09-14T05:09:26+00:00"},{"url":"https://www.bitmex.com/blog/insurance-fund-changes","name":"BitMEX Insurance Rebalancing - BitMEX Official Blog","type":"official","archive_url":"http://web.archive.org/web/20260723095438/https://www.bitmex.com/blog/insurance-fund-changes","credibility":1,"archive_timestamp":"2026-07-23T09:54:38+00:00"},{"url":"https://www.coindesk.com/business/2026/07/24/bitmex-faces-proposed-class-action-suit-for-theft-insider-trading-as-crypto-exchange-shuts-down","name":"CoinDesk - Crypto exchange BitMEX sued for 623 bitcoin as it prepares to shut down","type":"court_filing","archive_url":"http://web.archive.org/web/20260725053238/https://www.coindesk.com/business/2026/07/24/bitmex-faces-proposed-class-action-suit-for-theft-insider-trading-as-crypto-exchange-shuts-down","credibility":1,"archive_timestamp":"2026-07-25T05:32:38+00:00"},{"url":"https://bitcoinfoundation.org/news/crypto-exchanges-news/bitmex-lawsuit/","name":"Bitcoin Foundation News - BitMEX Faces $40M Class Action Over Alleged Bitcoin Theft","type":"news_article","archive_url":"https://web.archive.org/web/20261002130416/https://bitcoinfoundation.org/news/crypto-exchanges-news/bitmex-lawsuit/","credibility":2,"archive_timestamp":"2026-10-02T13:04:16+00:00"},{"url":"https://en.cryptonomist.ch/2026/07/24/bitmex-liquidation-lawsuit-claims/","name":"Cryptonomist - BitMEX Liquidation Lawsuit Claims Insider Trading Abuse","type":"news_article","archive_url":"https://web.archive.org/web/20261002055041/https://en.cryptonomist.ch/2026/07/24/bitmex-liquidation-lawsuit-claims/","credibility":2,"archive_timestamp":"2026-10-02T05:50:41+00:00"},{"url":"https://www.cftc.gov/PressRoom/PressReleases/8270-20","name":"CFTC - CFTC Charges BitMEX Owners with Illegally Operating a Cryptocurrency Derivatives Trading Platform","type":"regulatory","archive_url":"http://web.archive.org/web/20260823091326/https://www.cftc.gov/PressRoom/PressReleases/8270-20","credibility":1,"archive_timestamp":"2026-08-23T09:13:26+00:00"},{"url":"https://www.fincen.gov/news/news-releases/fincen-announces-100-million-enforcement-action-against-unregistered-futures","name":"FinCEN - $100 Million Enforcement Action Against BitMEX for BSA Violations","type":"regulatory","archive_url":"http://web.archive.org/web/20260509083534/https://www.fincen.gov/news/news-releases/fincen-announces-100-million-enforcement-action-against-unregistered-futures","credibility":1,"archive_timestamp":"2026-05-09T08:35:34+00:00"},{"url":"https://www.cftc.gov/PressRoom/PressReleases/8412-21","name":"CFTC - Federal Court Orders BitMEX to Pay $100 Million","type":"regulatory","archive_url":"http://web.archive.org/web/20260823200101/https://www.cftc.gov/PressRoom/PressReleases/8412-21","credibility":1,"archive_timestamp":"2026-08-23T20:01:01+00:00"},{"url":"https://www.cftc.gov/PressRoom/PressReleases/8522-22","name":"CFTC - Federal Court Orders BitMEX's Three Co-Founders to Pay a Total of $30 Million","type":"regulatory","archive_url":"http://web.archive.org/web/20260622190910/https://www.cftc.gov/PressRoom/PressReleases/8522-22","credibility":1,"archive_timestamp":"2026-06-22T19:09:10+00:00"},{"url":"https://www.justice.gov/usao-sdny/pr/founders-cryptocurrency-exchange-plead-guilty-bank-secrecy-act-violations","name":"DOJ SDNY - Founders Plead Guilty to Bank Secrecy Act Violations","type":"court_filing","archive_url":"http://web.archive.org/web/20260719233102/https://www.justice.gov/usao-sdny/pr/founders-cryptocurrency-exchange-plead-guilty-bank-secrecy-act-violations","credibility":1,"archive_timestamp":"2026-07-19T23:31:02+00:00"},{"url":"https://justice.gov/usao-sdny/pr/third-founder-cryptocurrency-exchange-pleads-guilty-bank-secrecy-act-violations","name":"DOJ SDNY - Third founder of cryptocurrency exchange pleads guilty to Bank Secrecy Act violations","type":"regulatory","archive_url":"http://web.archive.org/web/20260523200320/https://www.justice.gov/usao-sdny/pr/third-founder-cryptocurrency-exchange-pleads-guilty-bank-secrecy-act-violations","credibility":1,"archive_timestamp":"2026-05-23T20:03:20+00:00"},{"url":"https://www.coindesk.com/policy/2022/02/24/bitmex-founders-arthur-hayes-ben-delo-plead-guilty-to-violating-us-law","name":"CoinDesk - BitMEX Founders Arthur Hayes, Ben Delo Plead Guilty to Violating US Law","type":"news_article","archive_url":"http://web.archive.org/web/20251118002553/https://www.coindesk.com/policy/2022/02/24/bitmex-founders-arthur-hayes-ben-delo-plead-guilty-to-violating-us-law","credibility":2,"archive_timestamp":"2025-11-18T00:25:53+00:00"},{"url":"https://complianceconcourse.willkie.com/articles/news-alerts-2022-06-june-20220619-bitmex-executive-sentenced-to-30-months/","name":"Willkie Compliance Concourse - BitMEX executive sentenced to 30 months' probation","type":"news_article","archive_url":"http://web.archive.org/web/20260417210058/https://complianceconcourse.willkie.com/articles/news-alerts-2022-06-june-20220619-bitmex-executive-sentenced-to-30-months/","credibility":2,"archive_timestamp":"2026-04-17T21:00:58+00:00"},{"url":"https://complianceconcourse.willkie.com/articles/news-alerts-2022-08-august-20220816-former-bitmex-executive-pleads-guilty-to-bsa-violations","name":"Willkie Compliance Concourse - Former BitMEX executive pleads guilty to BSA violations","type":"news_article","archive_url":null,"credibility":2,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://www.coindesk.com/policy/2024/07/10/crypto-exchange-bitmex-pleads-guilty-to-violating-the-bank-secrecy-act-from-2015-to-2020","name":"CoinDesk - Crypto Exchange BitMEX Pleads Guilty to Violating the Bank Secrecy Act From 2015 to 2020","type":"news_article","archive_url":"http://web.archive.org/web/20260629115408/https://www.coindesk.com/policy/2024/07/10/crypto-exchange-bitmex-pleads-guilty-to-violating-the-bank-secrecy-act-from-2015-to-2020","credibility":1,"archive_timestamp":"2026-06-29T11:54:08+00:00"},{"url":"https://www.justice.gov/usao-sdny/pr/global-cryptocurrency-exchange-bitmex-fined-100-million-violating-bank-secrecy-act","name":"DOJ SDNY - Global Cryptocurrency Exchange BitMEX Fined $100 Million For Violating Bank Secrecy Act","type":"regulatory","archive_url":"http://web.archive.org/web/20260905072232/https://www.justice.gov/usao-sdny/pr/global-cryptocurrency-exchange-bitmex-fined-100-million-violating-bank-secrecy-act","credibility":1,"archive_timestamp":"2026-09-05T07:22:32+00:00"},{"url":"https://www.bloomberg.com/news/articles/2025-01-15/bitmex-fined-100-million-for-violating-us-bank-secrecy-act","name":"Bloomberg - BitMEX Fined $100 Million for Violating US Bank Secrecy Act (January 2025)","type":"news_article","archive_url":null,"credibility":1,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://finance.yahoo.com/news/bitmex-fined-additional-100-million-080833670.html","name":"Yahoo Finance - BitMEX Fined Additional $100 Million for Violating U.S. Bank Secrecy Act, Bringing Total Penalty to $210 Million","type":"news_article","archive_url":"https://web.archive.org/web/20260913004102/https://finance.yahoo.com/news/bitmex-fined-additional-100-million-080833670.html","credibility":2,"archive_timestamp":"2026-09-13T00:41:02+00:00"},{"url":"https://www.coindesk.com/policy/2025/03/28/president-trump-pardons-arthur-hayes-2-other-bitmex-co-founders-cnbc","name":"CoinDesk - President Trump Pardons Arthur Hayes, 3 Other BitMEX Co-Founders and Employee","type":"news_article","archive_url":"http://web.archive.org/web/20260608172809/https://www.coindesk.com/policy/2025/03/28/president-trump-pardons-arthur-hayes-2-other-bitmex-co-founders-cnbc","credibility":2,"archive_timestamp":"2026-06-08T17:28:09+00:00"},{"url":"https://www.bloomberg.com/news/articles/2025-03-28/trump-pardons-bitmex-co-founders-arthur-hayes-benjamin-delo-and-samuel-reed","name":"Bloomberg - Trump Pardons BitMEX Co-Founders Arthur Hayes, Benjamin Delo and Samuel Reed","type":"news_article","archive_url":"http://web.archive.org/web/20250825072657/https://www.bloomberg.com/news/articles/2025-03-28/trump-pardons-bitmex-co-founders-arthur-hayes-benjamin-delo-and-samuel-reed","credibility":1,"archive_timestamp":"2025-08-25T07:26:57+00:00"},{"url":"https://www.cnbc.com/2025/03/28/trump-pardon-bitmex-crypto-exchange-money-laundering.html","name":"CNBC - Trump pardons three BitMEX crypto exchange co-founders, and ex-employee","type":"news_article","archive_url":"http://web.archive.org/web/20260720191450/https://www.cnbc.com/2025/03/28/trump-pardon-bitmex-crypto-exchange-money-laundering.html","credibility":1,"archive_timestamp":"2026-07-20T19:14:50+00:00"},{"url":"https://www.theblock.co/post/343829/crypto-exchange-bitmex-seeks-buyer-taps-broadhaven-capital-partners-to-help-with-sale-report","name":"The Block - Crypto exchange BitMEX seeks buyer, taps Broadhaven Capital Partners","type":"news_article","archive_url":"http://web.archive.org/web/20260801005029/https://www.theblock.co/post/343829/crypto-exchange-bitmex-seeks-buyer-taps-broadhaven-capital-partners-to-help-with-sale-report","credibility":2,"archive_timestamp":"2026-08-01T00:50:29+00:00"},{"url":"https://www.coindesk.com/business/2025/02/27/crypto-trading-platform-bitmex-is-looking-for-a-buyer-sources","name":"CoinDesk - Crypto Trading Platform BitMEX Is Looking for a Buyer","type":"news_article","archive_url":"http://web.archive.org/web/20260708041357/https://www.coindesk.com/business/2025/02/27/crypto-trading-platform-bitmex-is-looking-for-a-buyer-sources","credibility":2,"archive_timestamp":"2026-07-08T04:13:57+00:00"},{"url":"https://www.coindesk.com/business/2026/07/31/bitmex-sale-collapsed-as-buyers-balked-at-founder-ownership-and-shrinking-business","name":"CoinDesk - BitMEX sale collapsed as buyers balked at founder ownership and shrinking business","type":"news_article","archive_url":"http://web.archive.org/web/20260808143528/https://www.coindesk.com/business/2026/07/31/bitmex-sale-collapsed-as-buyers-balked-at-founder-ownership-and-shrinking-business","credibility":1,"archive_timestamp":"2026-08-08T14:35:28+00:00"},{"url":"https://crypto.news/bitmex-spent-two-years-seeking-buyer-before-shutdown/","name":"Crypto.news - BitMEX spent two years seeking buyer before shutdown","type":"news_article","archive_url":"https://web.archive.org/web/20260914130603/https://crypto.news/bitmex-spent-two-years-seeking-buyer-before-shutdown/","credibility":2,"archive_timestamp":"2026-09-14T13:06:03+00:00"},{"url":"https://www.tronweekly.com/bitmex-sale-fails-as-buyers-reject-1-billion/","name":"Tron Weekly - BitMEX Sale Fails As Buyers Reject $1 Billion Valuation Amid Decline","type":"news_article","archive_url":"https://web.archive.org/web/20261002222824/https://www.tronweekly.com/bitmex-sale-fails-as-buyers-reject-1-billion/","credibility":3,"archive_timestamp":"2026-10-02T22:28:24+00:00"},{"url":"https://www.techtimes.com/articles/321478/20260724/bitmex-exchange-shuts-down-september-23-after-200m-fines-failed-sale.htm","name":"TechTimes - BitMEX Exchange Shuts Down September 23 After $200M in Fines and Failed Sale","type":"news_article","archive_url":"http://web.archive.org/web/20260725044859/https://www.techtimes.com/articles/321478/20260724/bitmex-exchange-shuts-down-september-23-after-200m-fines-failed-sale.htm","credibility":2,"archive_timestamp":"2026-07-25T04:48:59+00:00"},{"url":"https://cryptobriefing.com/bitmex-bmex-token-plunges-exchange-shutdown/","name":"Crypto Briefing - BitMEX's $BMEX Token Plunges 98% as Exchange Announces Permanent Shutdown","type":"news_article","archive_url":"http://web.archive.org/web/20260731235232/https://cryptobriefing.com/bitmex-bmex-token-plunges-exchange-shutdown/","credibility":2,"archive_timestamp":"2026-07-31T23:52:32+00:00"},{"url":"https://www.kucoin.com/news/flash/bitmex-platform-token-bmex-plummets-92-05-to-0-004757","name":"KuCoin - BitMEX Platform Token BMEX Drops 92.05%","type":"news_article","archive_url":"https://web.archive.org/web/20261002104859/https://www.kucoin.com/news/flash/bitmex-platform-token-bmex-plummets-92-05-to-0-004757","credibility":2,"archive_timestamp":"2026-10-02T10:48:59+00:00"},{"url":"https://financefeeds.com/bmex-token-crashes-90-as-bitmex-shuts-down-after-exploring-1b-sale/","name":"Finance Feeds - BMEX Token Crashes 90% as BitMEX Shuts Down After Exploring $1B Sale","type":"news_article","archive_url":"https://web.archive.org/web/20260731235940/https://financefeeds.com/bmex-token-crashes-90-as-bitmex-shuts-down-after-exploring-1b-sale/","credibility":2,"archive_timestamp":"2026-07-31T23:59:40+00:00"},{"url":"https://finance.yahoo.com/markets/crypto/articles/bmex-price-falls-90-bitmex-132302920.html","name":"Yahoo Finance - BMEX Price Falls 90% as BitMEX Shutdown Hands Market to Rivals","type":"news_article","archive_url":"http://web.archive.org/web/20260726040154/https://finance.yahoo.com/markets/crypto/articles/bmex-price-falls-90-bitmex-132302920.html","credibility":2,"archive_timestamp":"2026-07-26T04:01:54+00:00"},{"url":"https://www.coindesk.com/markets/2024/12/11/as-bit-mex-turns-10-the-market-is-still-thankful-for-the-perpetual-swap","name":"CoinDesk - As BitMEX Turns 10, the Market Is Still Thankful for the Perpetual Swap","type":"news_article","archive_url":"http://web.archive.org/web/20251209103724/https://www.coindesk.com/markets/2024/12/11/as-bit-mex-turns-10-the-market-is-still-thankful-for-the-perpetual-swap","credibility":2,"archive_timestamp":"2025-12-09T10:37:24+00:00"},{"url":"https://cryptobriefing.com/bitmex-shuts-down-crypto-consolidation/","name":"Crypto Briefing - BitMEX Shuts Down as Analysts Warn of Accelerating Crypto Consolidation","type":"news_article","archive_url":null,"credibility":2,"archive_error":"error:not-found","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://cryptobriefing.com/bitmex-shutdown-operations-cease/","name":"Crypto Briefing - BitMEX Shutdown Operations Cease","type":"news_article","archive_url":"http://web.archive.org/web/20260731235211/https://cryptobriefing.com/bitmex-shutdown-operations-cease/","credibility":2,"archive_timestamp":"2026-07-31T23:52:11+00:00"},{"url":"https://beincrypto.com/bitmex-exchange-shutdown-september-2026/","name":"BeInCrypto - BitMEX Exchange Shutdown September 2026","type":"news_article","archive_url":"http://web.archive.org/web/20260730005759/https://beincrypto.com/bitmex-exchange-shutdown-september-2026/","credibility":2,"archive_timestamp":"2026-07-30T00:57:59+00:00"},{"url":"https://finance.yahoo.com/markets/crypto/articles/3-real-reasons-why-bitmex-201321849.html","name":"3 Real Reasons Why BitMEX is Shutting Down - BeInCrypto / Yahoo Finance","type":"news_article","archive_url":"http://web.archive.org/web/20260730164353/https://finance.yahoo.com/markets/crypto/articles/3-real-reasons-why-bitmex-201321849.html","credibility":2,"archive_timestamp":"2026-07-30T16:43:53+00:00"},{"url":"https://www.coingecko.com/research/publications/state-of-crypto-perpetuals-report-2026","name":"State of Crypto Perpetuals Report 2026 - CoinGecko","type":"research","archive_url":"http://web.archive.org/web/20260910141325/https://www.coingecko.com/research/publications/state-of-crypto-perpetuals-report-2026","credibility":2,"archive_timestamp":"2026-09-10T14:13:25+00:00"},{"url":"https://pro.edgex.exchange/en-US/news/article/bitmex-trading-shutdown-crypto-derivatives-shift","name":"EdgeX - BitMEX Shutdown Highlights Crypto Derivatives Consolidation Pressures","type":"news_article","archive_url":"https://web.archive.org/web/20261002222807/https://pro.edgex.exchange/en-US/news/article/bitmex-trading-shutdown-crypto-derivatives-shift","credibility":3,"archive_timestamp":"2026-10-02T22:28:07+00:00"}],"source_tags":[],"addresses":[],"reviewed":false,"reviewed_by":null,"model_used":"claude-code-merge-writer","created_at":"2026-07-31T23:16:49.195004+00:00","updated_at":"2026-10-27T19:09:07.547+00:00"},"source_quality":{"total":53,"tier1":8,"tier2":15,"tier3":1,"unrated":29},"follower_count":null,"content_updated_at":"2026-10-27T19:09:08.143Z","last_fact_checked_at":"2026-10-27T19:09:07.854Z","fact_check_next_allowed_at":"2026-11-03T19:09:07.854Z","update_next_allowed_at":null}