BitMEX Sets Close-Only Risk Limits Ahead Of September Wind-Down

BitMEX will move into strict risk-limit mode on August 26 as part of its planned exchange wind-down. Starting at 04:00 UTC, users will only be able to close or reduce existing positions. New positions will no longer be allowed. Trading services are scheduled to permanently cease on September 23 at 04:00 UTC, according to the exchange’s official notice. BitMEX has described the process as a voluntary and orderly business wind-down following a strategic review. That distinction matters. The announcement should not be framed as insolvency, bankruptcy, or regulatory enforcement unless the company says so. The current message is that BitMEX is winding down operations on a controlled timeline. TL;DR BitMEX will enter close-only risk-limit mode on August 26 at 04:00 UTC. Users will not be able to open new positions after that point. Trading services are scheduled to permanently cease on September 23 at 04:00 UTC. Why Close-Only Mode Matters Close-only mode is a major step in any exchange wind-down. It prevents new risk from being added while giving users time to reduce exposure. That helps the platform manage open interest, margin, liquidation risk, and settlement obligations before the f...