Is BitMEX being sacrificed in this bear market? The founder of perpetual contracts can no longer hold on ❗ ️ BitMEX officially announced that the exchange will be closed on September 23, 2026. Starting from today, new user registrations will be suspended. Starting from August 26th, positions can only be reduced and no new positions can be opened. Open positions that have not been closed at maturity will be forcibly closed. Even more heart wrenching is that KYC users who fail to withdraw their funds in a timely manner after shutdown are required to pay a monthly fee of $50 or an annual management fee of 1%, whichever is higher. Who remembers, BitMEX was the pioneer in creating 100 times leveraged perpetual contracts, with a trading volume exceeding $16 billion in a single day and an annual trading volume exceeding $1 trillion several times. From their establishment in 2014 to being accused of violating the Bank Secrecy Act by the US Department of Justice in 2020, the three founders pleaded guilty, resigned, and were granted amnesty last year. In 2011, BitMEX went from its peak to its downfall. Did the bear market accelerate its death or did the three founders fall? In this bear market, not only altcoins have fallen, but even established trading platforms cannot withstand it. We still have BitMEX positions and assets in hand, please handle them as soon as possible. In the comment section, where did you open your first contract? BitMEX