BitMEX Ends Trading After a Decade, Tells Users to Withdraw Funds

The exit of a venue that normalized 100x leverage marks another step in the maturation of crypto derivatives, where extreme leverage has increasingly migrated to regulated or better-capitalized platforms. The immediate burden falls on residual users, who now face custody fees for leaving balances behind rather than any trading rationale. Whether those balances are withdrawn smoothly, and whether BitMEX's wind-down becomes a template for other legacy offshore venues, is the open question worth watching.