BitMEX, once one of the world’s most powerful derivatives exchanges, will permanently shut down in September 2026. BitMart announced its own closure in late July, causing its BMX token to plunge 58%. Movement Labs and Storj Labs both filed for Chapter 11 bankruptcy in the same month. Spot trading volume on major centralized platforms dropped to $1.05 trillion in April 2026, the lowest level in 25 months, while South Korean exchanges saw their volumes collapse 88% year-over-year. The sector’s consolidation, accelerated by Europe’s MiCA regulatory framework, is benefiting large platforms like Binance and OKX, which are absorbing most of the remaining flows.
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