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BitMEX appointed boutique investment bank Broadhaven late last year to assist with the sales process, according to sources.
By Ian Allison, Will Canny|Edited by Nikhilesh De
Updated Feb 27, 2025, 6:26 p.m. UTCPublished Feb 27, 2025, 6:19 p.m. UTC
What to know:
- OG crypto trading platform BitMEX is looking for a buyer
- BitMEX appointed investment bank Broadhaven Capital Partners late last year to help with the sales process.
BitMEX, the cryptocurrency exchange and derivatives trading platform co-founded in 2014 by Arthur Hayes, is looking for a buyer, according to two people with knowledge of the plans.
The storied exchange, which arguably made perpetual futures the most popular product among leverage-hungry crypto traders, appointed boutique investment bank Broadhaven Capital Partners late last year to assist with the sales process, the people said.
STORY CONTINUES BELOW
There has been some M&A interest around the crypto derivatives space of late. For instance, major exchanges Kraken and Coinbase are said to be vying for ownership of the leading crypto options exchange Deribit. Meanwhile, FalconX also bought Arbelos Markets earlier this year to expand its derivatives business.
Back in 2020, BitMEX was alleged to have failed to implement adequate anti-money laundering measures in place, and later pled guilty to the charges. Hayes resigned as CEO shortly after the U.S. brought criminal charges, alongside co-founders Ben Delo and Samuel Reed.
BitMEX and Broadhaven declined to comment on the acquisition plans.
Read more: What Are Crypto Derivatives? A Beginner’s Guide
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
