BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure fees

What happened

BitMEX announced that it will cancel all open orders and settle final positions for 35 derivative contracts against 30‑minute indexes at 12:00 UTC, while also imposing high post‑closure fees.

Confirmed

Global impact / market context

Traders will lose pending orders and may incur large fees, reducing their profits or causing losses. The removal of many contracts also shrinks available crypto‑derivative products, affecting market depth and pricing.

Analyst inference

The shutdown occurs as trading contracts that derive their value from cryptocurrency prices faces tighter regulation and competition. Users may move to other platforms, changing where buying and selling activity happens and how easily trades can be made.

Analyst inference

What to watch

1. The exact timeline for BitMEX’s final shutdown, including any extensions, which will determine when traders must exit positions. Confirmed
2. Details of the post‑closure fee structure, as higher fees could increase costs for users and accelerate migration to other exchanges. Proposed
3. How other crypto‑derivative platforms respond, such as offering incentives to absorb displaced traders, which could reshape market share. Analyst inference

Affected assets

• USDT — Tether
• BMEX — BitMEX
• BTC — Bitcoin

Evidence

• cryptoslate.com