BitMEX and BitMart may be first casualties of crypto trading slump
Trading volumes across major centralized platforms fell down to $1.05 trillion, marking the quietest stretch of activity for the digital asset market in over two years.
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Summary
- BitMEX, a pioneering crypto derivatives exchange known for inventing the perpetual swap, will permanently shut down in September after years of regulatory and legal troubles.
- A wave of closures and bankruptcies, including BitMart, Movement Labs and Storj Labs, underscores how collapsing retail trading volumes and rising regulatory costs are squeezing smaller crypto firms.
- Analysts say only large, well-capitalized exchanges with strong compliance, transparent reserves and diversified services are likely to survive as retail speculation fades and rules like the EU’s MiCA take hold.
