BitMEX sale collapsed as buyers balked at founder ownership and shrinking business
Potential buyers, including Exodus, passed on BitMEX amid concerns over founder ownership and its shrinking business, according to a source familiar.
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Summary
- Reputational baggage, fading growth and founder control combined to drive potential acquirers away, according to a source familiar with the discussions.
- The crypto exchange failed to secure a buyer before deciding to wind down operations last month.
- BitMEX’s declining business made it difficult to justify a growth valuation, the person said.
