BitMEX Seeks Buyer Amidst Crypto Derivatives Mergers

Crypto derivatives platform BitMEX is reportedly seeking a buyer, according to sources familiar with the matter. The trading platform has enlisted the services of Broadhaven Capital Partners to assist in the sale process. BitMEX, founded in 2014, is looking to find a new owner, with the help of Broadhaven Capital Partners, which is an investment banking provider offering strategic and financial services solutions.

BitMEX's decision to seek a buyer comes amidst a wave of mergers and acquisitions in the crypto derivatives market. Rival platforms, such as Coinbase and Kraken, are engaged in a bidding war for the right to acquire Deribit, the world's leading trading platform for Bitcoin (BTC) and Ethereum (ETH) options. Meanwhile, prime brokerage firm FalconX has snapped up trading firm Arbelos Markets as part of its expansion in the derivatives market.

Reports of BitMEX's plans for a buyer come just over a month after a U.S. judge ordered the exchange to pay a $100 million fine over anti-money laundering violations. The exchange and its founders pleaded guilty to the charges in 2022 and had paid another $110 million. Another guilty plea came in July 2024. The charges stem from a 2020 indictment that saw Arthur Hayes resign as chief executive officer of BitMEX. Authorities alleged that the derivatives platform had ignored anti-money laundering laws in pursuit of revenue.