Bitcoin News(@BitcoinNewsCom):Many are speculating that the reason for the BitMEX shutdown is to unlock its roughly $270 million Insurance Fund. The Insurance Fund isn’t customer-owned. It’s controlled by BitMEX and exists to absorb liquidation losses and prevent auto-deleveraging (ADL). Once all positions are settled, customers are paid, and no liabilities remain, any surplus would generally belong to BitMEX’s parent company unless otherwise required by its terms or law. If no buyer was willing to pay a premium for the fund in an acquisition, winding down the exchange could be one way to ultimately realize that value. It’s a plausible theory, though BitMEX has not said this is the reason for the closure.

2026.07.24 13:05

Many are speculating that the reason for the BitMEX shutdown is to unlock its roughly $270 million Insurance Fund. The Insurance Fund isn’t customer-owned. It’s controlled by BitMEX and exists to absorb liquidation losses and prevent auto-deleveraging (ADL). Once all positions are settled, customers are paid, and no liabilities remain, any surplus would generally belong to BitMEX’s parent company unless otherwise required by its terms or law. If no buyer was willing to pay a premium for the fund in an acquisition, winding down the exchange could be one way to ultimately realize that value. It’s a plausible theory, though BitMEX has not said this is the reason for the closure.