BitMEX Looks for Buyer

BitMEX, the cryptocurrency exchange and derivatives trading platform co-founded in 2014 by Arthur Hayes, is seeking a buyer according to sources familiar with the plans.

The renowned exchange, which popularized perpetual futures among leveraged crypto traders, engaged boutique investment bank Broadhaven Capital Partners late last year to help with the sales process.

Recently, there has been increased M&A interest in the crypto derivatives space. For example, major exchanges Kraken and Coinbase are allegedly competing to acquire the leading crypto options exchange, Deribit. Additionally, FalconX purchased Arbelos Markets earlier this year to enhance its derivatives business.

In 2020, BitMEX faced allegations regarding insufficient anti-money laundering measures and subsequently pled guilty to the charges. Hayes resigned as CEO shortly after U.S. criminal charges were brought against him and co-founders Ben Delo and Samuel Reed.

Both BitMEX and Broadhaven declined to comment on the acquisition plans.

Read more: [What Are Crypto Derivatives? A Beginner’s Guide]