BitMex, the cryptocurrency derivatives exchange known for high-leverage trading products, has announced it is ceasing operations.
The platform will wind down over the next six months, during which customers are instructed to withdraw their remaining balances.
The closure marks another significant exit in a sector increasingly pressured by both market conditions and regulatory scrutiny.
The shutdown comes as the broader cryptocurrency industry faces a dual squeeze.
On the market side, trading volumes and sentiment have softened, reducing revenue streams for exchanges that rely on high activity.
On the regulatory front, authorities are tightening the net around digital asset firms.