BitMEX failed to complete a sale due to founder control and business decline, and has decided to cease operations

Odaily News: Cryptocurrency exchange BitMEX failed to find a buyer before deciding to gradually wind down operations in June. A source familiar with the matter stated that reputational burdens, slowing growth, and founder control were factors that led potential acquirers to walk away from negotiations.

The source noted that BitMEX's business has been in continuous decline, making it difficult for the exchange to command a valuation based on growth expectations.