Crypto derivatives platform BitMEX is on sale, according to sources familiar with the matter.
According to reports, BitMEX has recruited the expertise of Broadhaven Capital Partners in order to assist in the process of concluding a transaction.
The trading platform is reportedly looking for a buyer. Broadhaven Capital Partners is a provider of investment banking services that also provides solutions for strategic development and financial management. CoinDesk, a cryptocurrency newspaper, reported on this development on Thursday, February 27.
According to sources, BitMEX is looking up Broadhaven Capital’s advice in order to find a buyer. According to the report, two individuals who are familiar with the preparations have claimed that BitMEX appointed Broadhaven Capital Partners in the latter half of 2024.
In spite of the fact that BitMEX, which was established in 2014, is purportedly looking for a new owner, a number of other agreements in the industry imply that competitors are vying for even greater control.
One of the most notable developments in the field of mergers and acquisitions is the competition between Coinbase and Kraken for the opportunity to acquire Deribit, a platform that specializes in derivatives trading.
When it comes to trading options for Bitcoin and Ethereum, Deribit is the most prominent platform in the world. Recently, the platform that is situated in Dubai disclosed its intentions to extend its services and products to the city of Hong Kong from Dubai.
During this time, the prime brokerage business FalconX has acquired the trading firm Arbelos Markets in an effort to gain traction in the derivatives market. The acquisition of the platform by FalconX earlier this year is a component of the company’s endeavor to expand its presence in the derivatives market.
A little more than a month after a judge in the United States ordered BitMEX to pay a $100 million sentence for anti-money laundering offenses, reports of BitMEX’s preparations for a buyer have surfaced from the cryptocurrency exchange.
In 2022, the exchange and its founders entered guilty pleas to the accusations leveled against them and paid an additional 110 million dollars. In July of 2024, there was yet another guilty plea. The charges stem from a 2020 indictment that led to Arthur Hayes resigning from his position as chief executive officer of BitMEX.
The United States Department of Justice had brought criminal charges against Hayes, as well as against Ben Delo and Samuel Reed, who were co-founders of BitMEX. For the sake of generating revenue, the authorities asserted that the derivatives platform had disregarded rules that prohibit money laundering.
