BitMEX to Shut Down After 11 Years

BitMEX and BitMart announce exchange closures

Two cryptocurrency exchanges, BitMEX and BitMart, have announced they will cease operations. BitMEX, the pioneering derivatives exchange founded in 2014, will close on September 23, 2026, following a strategic review by its board. The exchange, known for inventing the 100x leverage perpetual swap, has stopped new account registrations immediately. From August 26, users can only reduce positions, not open new ones. All open positions will be force-closed at the closure time. BitMEX highlighted its 11-year track record of zero funds lost to hacks. Users are urged to withdraw funds before the deadline, after which account fees will apply to remaining balances. BitMart also announced an orderly cessation of operations, though specific details were not immediately available

.See announcement: https://www.bitmex.com/blog/bitmex-closure & https://www.bitmart.com/en-US/support/articles/7922665245339/39162120325403/53544595916059

Movement Labs files for bankruptcy

The Movement blockchain has filed for bankruptcy after struggling to generate meaningful revenue since November 2025. According to DeFiLlama data, on-chain app daily revenue consistently fell below ＄800, while daily network fees remained in single digits, with just ＄1 in the past 24 hours. This poor performance came despite the project raising ＄141.4 million in total funding. The native token's fully diluted valuation has collapsed to ＄107 million, down over 99% from its peak. The stark contrast between the substantial capital raised and minimal operational revenue highlights the challenges facing the blockchain project.

See data: https://defillama.com/chain/movement

Mirae Asset rebrands Korbit to Digital X

South Korean financial giant Mirae Asset has completed its acquisition of 97.15% of local crypto exchange Korbit and rebranded it as Digital X. The company plans to build an investment ecosystem connecting RWA, security tokens, stablecoins, traditional assets, and digital assets. Mirae Asset emphasized its goal is not to surpass Upbit or Bithumb, but to combine global investment expertise with digital asset infrastructure to promote sustainable development in Korea's digital asset industry. Korbit currently holds less than 1% of the Korean market. Meanwhile, institutional forex and digital asset trading platform LMAX Group has hired Morgan Stanley and Stifel's KBW to evaluate strategic options, including a potential sale, SPAC merger, or IPO in the US or Europe. The company could be valued at up to ＄5 billion, with a Nasdaq listing being the preferred option. In 2021, J.C. Flowers acquired 30% of LMAX for ＄300 million, valuing the company at around ＄1 billion at the time.

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