BitMEX Seeks Buyer Amidst Crypto Derivatives M&A Boom

Cryptocurrency trading platform BitMEX, co-founded by Arthur Hayes in 2014, is reportedly seeking a buyer, according to two sources familiar with the matter. The exchange, known for popularizing perpetual futures among crypto traders, has engaged boutique investment bank Broadhaven Capital Partners to assist with the sale process.

BitMEX's potential acquisition comes amidst increased merger and acquisition (M&A) activity in the crypto derivatives space. Major exchanges such as Kraken and Coinbase are said to be interested in acquiring leading crypto options exchange Deribit, while FalconX recently bought Arbelos Markets to expand its derivatives business.

In 2020, BitMEX faced allegations of failing to implement adequate anti-money laundering measures, leading to criminal charges brought by the U.S. Hayes, along with co-founders Ben Delo and Samuel Reed, resigned from their positions following the charges.

Neither BitMEX nor Broadhaven have commented on the acquisition plans. As the crypto market continues to evolve, the potential sale of BitMEX could signal a new chapter in the platform's history and the broader derivatives landscape.