BitMEX is seeking a buyer to sell its business, CoinDesk reports, citing informed sources.

To facilitate the sale, the company hired investment boutique bank Broadhaven at the end of 2024.

The publication noted the growing wave of mergers and acquisitions in the crypto derivatives sector. Notably, Kraken and Coinbase have shown interest in acquiring Deribit, while Arbelos Markets joined FalconX in January.

In January, HDR Global Trading Limited, the operator of the BitMEX crypto derivatives exchange, was fined $100 million in the U.S. for violating the Bank Secrecy Act.

According to court documents, Arthur Hayes, Benjamin Delo, and Samuel Reed founded BitMEX around 2014. A year later, Gregory Dwyer joined as Business Development Director.

For years, the exchange served U.S. clients and operated through offices in the country without CFTC registration or AML compliance.

Hayes and Delo pleaded guilty in February 2022, Reed reached a deal with authorities in March, and Dwyer followed in August.

BitMEX admitted guilt in July 2024.

In 2021, as part of a CFTC civil settlement, the exchange paid a $100 million fine.

Regulators also imposed financial penalties of $10 million each on Hayes, Delo, and Reed.