Bitcoin News
By Julie Binoche
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The Exchange That Invented the Perpetual Swap. BitMEX didn't just participate in crypto derivatives — it created the product that defined the…
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What Traders Need to Do Before September 23. Existing users need to act before the deadline. BitMEX has told its users to settle open positions…
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HDR Global's Next Move Is Anyone's Guess. HDR Global Trading Limited has said nothing about what comes after the shutdown.
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BitMEX is done. HDR Global Trading Limited, the exchange's parent company, announced July 23 that it's closing the platform for good on September 23, 2026, at 04:00 UTC — and it…
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The announcement came with very little explanation. HDR Global said it conducted a strategic review of BitMEX's business and the broader crypto industry, and the conclusion was…
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The idea spread fast. Exchanges across the industry copied the model, built on it, and competed directly with BitMEX using its own innovation.
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That's probably a big part of why HDR Global's strategic review landed where it did. The company hasn't said so directly, but the math isn't hard to follow: you built something…
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Existing users need to act before the deadline. BitMEX has told its users to settle open positions and withdraw any remaining funds before September 23.
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The user base will scatter. Traders who relied on BitMEX for perpetual swaps will move to competing exchanges, and there's no shortage of places to go at this point.
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See also: Movement Labs Seeks Chapter 11 Shield as MOVE Token Loses Exchange Access
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But the transition isn't nothing. Liquidity shifts when a major exchange closes, even one that's lost ground over the years.
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HDR Global Trading Limited has said nothing about what comes after the shutdown. No new ventures mentioned. No pivot strategy announced.
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That silence is kind of unusual. Companies winding down a major product usually at least gesture toward what's next, even if it's vague. HDR Global didn't bother.
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So the company's future is genuinely murky. Maybe there's something in the works that they're not ready to talk about.
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Read also: Macro Stability Keeps Crypto Trading in Tight Range
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