BitMEX reportedly spent two years seeking a buyer before deciding to close the crypto derivatives exchange, as founder control, declining activity and legal baggage deterred potential acquirers.
Summary
- BitMEX discussed a sale with multiple prospective buyers, including competing exchanges and Exodus.
- Founder control, shrinking revenue and reputation concerns reportedly complicated the negotiations.
- The exchange was reportedly seeking a valuation of about $1 billion during the process.
- BitMEX will restrict trading on Aug. 26 and close the exchange on Sept. 23.
BitMEX held sale talks for two years
BitMEX explored a sale with several potential acquirers over…
