Arthur Hayes: Why did BitMEX decide to shut down operations? On August 22, 2026, BitMEX co-founder @CryptoHayes shared in an interview that the decision to shut down BitMEX was not due to hacking incidents or regulatory pressure, but rather a proactive choice made by the team. He revealed that after discussions among the three co-founders, they realized the company was no longer profitable and was instead continuously burning funds, leading to the decision to cease operations. Arthur Hayes stated that BitMEX's ownership remained unchanged over 13 years, and the decision to end the business was unanimously made by the board. The team chose to leave on their own terms.