Following BitMEX's announcement of its shutdown, the BMEX token plummeted by 92%, with its market cap falling to just $480,000.

According to HTX market data, after BitMEX announced today that it will officially shut down on September 23, its native token BMEX plummeted by 92% to $0.005, with a market capitalization of just $480,000. Notably, the platform’s current handling of BMEX tokens is extremely limited, with no additional compensation or special arrangements. The only clear action specified in BitMEX’s official shutdown announcement today is that the platform has immediately un-staked all staked BMEX and returned them directly to holders’ accounts. Per BitMEX’s prior notice, BMEX is a purely platform utility token, not equity, debt, or an asset with promised returns. The official disclaimer states that BMEX is only used on the BitMEX platform for features such as fee discounts and staking rewards, does not constitute an investment, and the platform assumes no responsibility for refunds or exchanges.