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cryptoJul 23, 2026, 9:41 AM

BitMEX, Pioneer of Crypto Perps, Closes Down Just as the Market Heats Up

BitMEX, the pioneer of crypto perpetual swaps, has announced it will shut down its trading platform. The closure comes as the cryptocurrency market sees renewed activity.

BitMEX, the cryptocurrency exchange widely credited with inventing perpetual swap contracts, has announced it will close its trading platform. The decision was disclosed on July 23, 2026, according to a daily briefing from Finance Magnates.

No specific reason for the shutdown was provided in the announcement. BitMEX was once one of the largest crypto derivatives exchanges, particularly popular among leveraged traders. Its closure comes at a time when the broader digital asset market has been experiencing renewed interest and rising trading volumes.

The exchange has not yet detailed a timeline for the wind-down or how it will handle outstanding positions and user funds. Further updates are expected from the company in the coming days.

Source: Finance Magnates