According to CoinMeta, the $1 billion sale of BitMEX was called off due to buyers withdrawing. Potential buyers, including Exodus, chose to back out due to founder control, a decline in BitMEX's market share, and ongoing legal and reputational issues. Once, BitMEX handled approximately 57% of global crypto derivatives transactions, but its current market share is less than 0.01%. The exchange is scheduled to close permanently on September 23, 2026, marking the decline of this pioneering perpetual contract platform.