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BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure fees

BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure fees

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BitMEX settled 35 derivatives today, July 30, closing any remaining positions and canceling open orders as the exchange moved another step toward its September shutdown.

BitMEX’s settlement log shows 33 contracts closing almost on the stroke of noon, at 12:00:05 UTC. EURUSD and USDCHF followed at 12:32:25 and 12:33:25 UTC. With prices now posted for the full 35-contract batch, the early settlement flagged in BitMEX’s July 22 notice is complete.

BitMEX attributed the delistings to insufficient trading interest and its planned exchange shutdown. It described the process as an early settlement, not a margin liquidation.

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Before settlement, the contracts traded normally until 04:00 UTC, when BitMEX fixed the final funding rate, known as F0, using prices from the preceding eight hours. It then stopped calculating new funding and set the next funding rate to zero. The checkpoint established the funding input for settlement but did not end trading; that occurred at 12:00 UTC.

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Settlement results

The table pairs each contract with the 30-minute reference index from BitMEX’s notice and the settled price now shown in the exchange’s public records.

Contract Settlement index Settled price
AAVEUSDT .BAAVET30M 98.249
APEUSDT .BAPET30M 0.1369
AUDUSD .BAUDUSD30M 0.6979
AVAXUSDT .BAVAXT30M 6.4892
BRENTUSDT .BBRENTT30M 87.22
COINUSDT .BCOINT30M 162.74
CRCLUSDT .BCRCLT30M 62.43
CRVUSDT .BCRVT30M 0.21052
DOTUSDT .BDOTT30M 0.7677
EURUSD .BEURUSD30M 1.1468
FILUSDT .BFILT30M 0.6955
GBPUSD .BGBPUSD30M 1.3379
GOOGLUSDT .BGOOGLT30M 337.83
GRAMUSDT .BGRAMT30M 1.4325
HOODUSDT .BHOODT30M 90.55
INTCUSDT .BINTCT30M 84.03
LINKUSDT .BLINKT30M 8.4382
LOTUSDT .BLOTT30M 0.006185
MSFTUSDT .BMSFTT30M 428.84
MSTRUSDT .BMSTRT30M 95.64
NATGASUSDT .BNATGAST30M 2.7052
NVDAUSDT .BNVDAT30M 193.59
OPNUSDT .BOPNT30M 0.04626
SEIUSDT .BSEIT30M 0.042
SHIBUSDT .BSHIBT30M 0.000004631
TSLAUSDT .BTSLAT30M 303.91
UNIUSDT .BUNIT30M 4.1133
USDCAD .BUSDCAD30M 1.4047
USDCHF .BUSDCHF30M 0.8133
USDJPY .BUSDJPY30M 162.97
WTIUSDT .BWTIT30M 83.56
XBTETH .BXBTETH30M 33.6603
XMRUSDT .BXMRT30M 359.41
XPTUSDT .BXPTT30M 1624.95
ZECUSDT .BZECT30M 476.04

What settlement changed

The affected contracts expired, trading ended, and open orders were canceled. BitMEX exchanged funding based on F0 before closing remaining positions at the listed settlement prices. The exchange charged no settlement fee, added each contract’s lifetime profit or loss to the user’s Bitcoin or Tether balance, and removed the contracts from the Positions section.

The settlements were one step in a wider wind-down. BitMEX’s July 23 closure notice says new registrations stopped immediately. From 04:00 UTC on Aug. 26, users will only be able to reduce positions, and the venue may force-close positions before exchange services end at 04:00 UTC on Sept. 23. Any position remaining at closure will be force-closed, although users will retain account access to view balances and withdraw funds.

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BitMEX said KYC-verified users who leave assets on the platform after closure may face an account fee, billed monthly, equal to the greater of $50 equivalent or 1% per year.

The post BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure fees appeared first on CryptoSlate.

AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed

AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed

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AscendEX shut down on July 1, leaving some customers unsure whether they will recover their funds.

The exchange said in a July 6 notice that it does not hold authorization under the European Union’s Markets in Crypto-Assets framework. It also cited financial and operational pressures, including a failed strategic transaction expected to provide liquidity.

Customers can no longer use AscendEX to open accounts, deposit funds, trade, swap, stake or lend. They should retain access only to withdraw assets and complete other exit steps, provided the platform remains available, and no legal or insolvency restrictions intervene.

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Withdrawal risk is separate from the MiCA shutdown

AscendEX drew a distinction between losing access to the market and processing money owed to customers.

Automated withdrawals were paused on July 6. Every request now requires manual review, including identity, sanctions, and fraud checks; asset and balance reconciliation; network availability; and any legal or insolvency requirements.

AscendEX warned that some withdrawals may be delayed, face further checks or be rejected. Customers have no firm payment date and no assurance they will recover their full balances.

The exchange has disclosed too little financial information to determine whether it is insolvent. The uncertainty leaves customers facing creditor risk as the platform winds down.

AscendEX said a counterparty failed to complete an agreed transaction intended to provide liquidity. It is assessing its financial position and warned that unresolved balances could become subject to a formal insolvency or similar process if one begins.

The gaps in AscendEX’s disclosures leave customers guessing. They do not know whether manual reviews reflect routine compliance checks, a short-term cash squeeze or a deeper hole in the exchange’s finances. AscendEX has also left unclear which legal entity holds customer assets and where any insolvency case would be handled.

It has yet to disclose how many withdrawals are waiting, how much money is tied up or when customers will hear more.

ESMA told unauthorised providers to stop onboarding EU clients after the MiCA transition ended on July 1 while allowing only the services needed for an orderly exit. AscendEX’s warning goes further by tying withdrawals to liquidity pressure and possible insolvency constraints.

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Customers should stop sending deposits, review their balances, and make sure their KYC information is complete. Withdrawal requests should be submitted only through the official platform flow.

Users should also export their transaction histories and retain copies of withdrawal submissions and written complaints. Those steps preserve account records and a paper trail, but they do not guarantee processing or payment.

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Public warnings and the next signals

Withdrawal concerns had circulated before the notice. On June 26, on-chain investigator ZachXBT asked AscendEX about reports of delayed or incomplete withdrawals and warned users not to deposit.

On July 6, he said multiple users had faced suspended withdrawals. His claims about wallet balances and individual losses have not been independently established.

AscendEX customers still do not know when withdrawals will resume or whether the exchange can repay them. They can file claims, but there is no timeline for receiving their assets and no guarantee they will be returned in full.

The post AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed appeared first on CryptoSlate.