BitMEX, the cryptocurrency exchange and derivatives trading platform co-founded in 2014 by Arthur Hayes, is looking for a buyer, according to two people with knowledge of the plans.
The storied exchange, which arguably made perpetual futures the most popular product among leverage-hungry crypto traders, appointed boutique investment bank Broadhaven Capital Partners late last year to assist with the sales process, the people said.
There has been some M&A interest around the crypto derivatives space of late. For instance, major exchanges Kraken and Coinbase are said to be vying for ownership of the leading crypto options exchange Deribit. Meanwhile, FalconX also bought Arbelos Markets earlier this year to expand its derivatives business.
Back in 2020, BitMEX was alleged to have failed to implement adequate anti-money laundering measures in place, and later pled guilty to the charges. Hayes resigned as CEO shortly after the U.S. brought criminal charges, alongside co-founders Ben Delo and Samuel Reed.
BitMEX and Broadhaven declined to comment on the acquisition plans.
Read more: What Are Crypto Derivatives? A Beginner’s Guide