BitMEX, one of the pioneers of cryptocurrency derivatives trading, announced it will shut down operations after owner and operator HDR Global Trading Limited decided to close the company following a strategic review.

The company announced Thursday that it will stop operations on Sept. 23, 2026, and advised users to close positions and withdraw funds during the transition period.

“We want to reassure you that your assets remain fully safe and under your control during this transition period,” BitMEX said in a statement to users.

BitMEX said its platform helped popularize perpetual swap contracts, a type of crypto derivatives product that allows traders to speculate on asset prices without expiration dates. The company also said it has maintained a record of no customer funds lost to hacks during its 11 years of operation.

This is a developing story and will be updated as more information becomes available.