BitMEX, a cryptocurrency exchange known for pioneering highly leveraged Bitcoin derivatives, is shutting down due to a prolonged downturn in the industry.
The exchange, owned by HDR Global Trading Ltd., announced in a blog post that it will begin winding down operations and close on September 23.
As of now, BitMEX has stopped accepting new account registrations.
The move comes as the crypto market continues to struggle, with many exchanges feeling the effects of this downturn.