Woofun AI reports that BitMEX has announced the official closure of its trading platform on September 23, 2026, marking the end of its 12-year operation. Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, the exchange pioneered 100x leverage perpetual contracts, becoming a dominant force in the derivatives market before facing regulatory scrutiny. The platform’s history includes the March 2020 market crash, where it suspended trading to prevent price collapse, and subsequent legal actions by the U.S. Department of Justice and CFTC for AML violations. Following the resignation of its founding team and the rise of competitors like Binance, Bybit, and OKX, BitMEX had reportedly hired Broadhaven Capital Partners in late 2024 to assist with a potential sale before confirming its shutdown.