(Bloomberg) — BitMEX, the exchange that was first to offer the highly leveraged Bitcoin derivatives that have become a mainstay of crypto trading, is shuttering as a prolonged downturn roils the industry.
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The exchange, owned by HDR Global Trading Ltd., announced in a blog post Thursday that it would begin winding down operations and is set close on Sept. 23. The company has stopped accepting new account registrations, BitMEX said in the post.
Founded in 2014 by former Citigroup Inc. equities trader Arthur Hayes together with Ben Delo and Samuel Reed, BitMEX transformed crypto trading by introducing perpetual futures contracts, allowing as much as 100 times leverage on…
