Bitmex, a cryptocurrency exchange and derivatives trading platform co-founded by Arthur Hayes in 2014, is looking for buyers, according to two people with knowledge of the planning.
The renowned exchange that undoubtedly made lasting futures the most popular product among leverage-hungry crypto traders, was appointed as a Broadhaven Capital Partner at the boutique investment bank to support the sales process late last year, people said.
M&A has been interested in the recent circumference of the crypto derivative space. For example, the main exchanges Kraken and Coinbase are said to be fighting for ownership of the main Crypto Options Exchange Deribit. Meanwhile, Falconx expanded its derivatives business by purchasing Arbelos Markets earlier this year.
In 2020, Bitmex was allegedly unable to implement appropriate money laundering measures and later pleaded guilty to the charges. Hayes resigned as CEO shortly after the US filed criminal charges along with co-founders Ben Delo and Samuel Reed.
Bitmex and Broadhaven declined to comment on the acquisition plan. Read more: What are coded derivatives? Beginner’s Guide