India, July 23 -- Cryptocurrency derivatives exchange BitMEX has announced that it will permanently shut down its operations on September 23, marking the end of one of the industry's earliest trading platforms. The exchange said the decision was made following a strategic business review and assured customers that their assets remain safe. Users have been advised to close open positions and withdraw their funds before the shutdown deadline.

Why Is BitMEX Shutting Down?

BitMEX said its owner and operator, HDR Global Trading, decided to wind down the exchange after conducting a strategic review of the business.

The company announced the closure in a post on X (formerly Twitter), confirming that all operations will cease on September 23....