Global cryptocurrency exchange BitMEX has officially ended its exchange operations after about 12 years. Trading, deposits and new position openings have been blocked, leaving users able only to log in and withdraw funds. BitMEX urged users to withdraw remaining balances quickly and warned against sending funds to its addresses. Accounts leaving balances after completing KYC face an annual fee of 1 percent or $50, billed monthly. It is also tightening withdrawal security checks.

BitMEX co-founder Arthur Hayes said moves by major AI companies to slow development may reflect profitability pressures rather than safety concerns. He argued AI-related debt is tied to large amounts of financial assets and that weakening computing demand could hit data centre values and associated credit, with insurers a potential weak link. Hayes said government intervention could expand liquidity, which could support bitcoin and other cryptocurrencies. He stressed it remains a personal scenario and is unconfirmed.