According to breaking news, cryptocurrency exchange BitMEX is looking for a buyer.
BitMEX appointed investment bank Broadhaven Capital Partners late last year to assist with the sale process.
The platform, founded by Arthur Hayes in 2014, has reportedly hired boutique investment bank Broadhaven Capital Partners to oversee the sale process, which was launched late last year.
The sale decision comes amid increased merger and acquisition (M&A) activity in the crypto derivatives space, with industry giants Kraken and Coinbase reportedly vying for a potential acquisition of leading crypto options exchange Deribit.
Additionally, FalconX recently expanded its presence in the derivatives market by acquiring Arbelos Markets earlier this year.
Once dominant in the crypto derivatives industry, BitMEX rose to prominence by popularizing perpetual futures contracts, a product favored by traders looking for leverage. However, its reputation took a hit in 2020 when U.S. authorities accused the platform of failing to implement adequate anti-money laundering (AML) measures.
The company later pleaded guilty to the charges, leading to Hayes' resignation along with co-founders Ben Delo and Samuel Reed.
*This is not investment advice.
