Breaking: Arthur Hayes’ BitMEX Exploring Company Sale

Crypto exchange giant BitMEX is exploring the options of a complete takeover. Co-founded by Arthur Hayes, Benjamin Delo, and Samuel Reed in 2014, the exchange has reportedly tapped Broadhaven Capital Partners, an investment banking firm, to help in the potential takeover process. BitMEX has had some run-ins with regulators in the United States. However, there are no indications of financial distress.

The BitMEX Selloff Pursuit

According to reports citing two people familiar with the process, Broadhaven started advising the company on the sale as early as Q4 2024. While the news is not official from BitMEX, it aligns with the ongoing trend in the broader cryptocurrency ecosystem.

BitMEX has a rich history in the broader digital currency ecosystem, including popularizing futures trading. However, in making history, it has faced probes and legal actions from authorities in the United States.

Earlier in January, CoinGape reported that United States District Judge John G. Koeltl ordered BitMEX to pay $100 million for violating the country’s Bank Secrecy Act (BSA). Notably, this settlement also ends the firm’s legal woes in the country.

Beyond BitMEX, Exchanges’ M&A Activities is Growing

Just like BitMEX, other trading platforms in the market are also exploring acquisitions for expansion. As reported earlier by CoinGape, Options trading platform Deribit is attracting takeover interests in the market. Coinbase and Kraken are reportedly among the top rivals looking to take over the firm.

Over the past year, related M&A actions have been recorded in the market. One of the high-profile acquisitions was between Robinhood and Bitstamp. The former agreed to buy the latter for $200 million, a deal expected to close this year.

The President Donald Trump administration is proving favorable for the crypto industry. Through an Executive Order tailored to the industry and pro-crypto leaders in key positions, firms and investors are repositioning to get the most out of the administration.

Good time for Crypto Exchanges

Digital currency trading platforms in the United States are gradually wriggling out of their legal cases. Earlier this month, Coinbase and the US SEC agreed to close the securities lawsuit against the trading platform. This ends the controversial suit filed by the Gary Gensler-led commission.

With Mark Uyeda and a new Crypto Task Force guiding the crypto direction in the industry, exchanges are beginning to see positive changes in regulation. These changes are not confined to centralized exchanges but also apply to their decentralized counterparts.

Like the Coinbase suit was closed, the regulator recently ended the Uniswap investigation. The trading platform received a Wells Notice from the regulator in 2024 as the commission accused it of operating as a securities broker per some of the tokens it supports.