BitMEX, one of crypto's earliest derivatives exchanges, is shutting down in September 2026 after 11 years of operation, the platform confirmed this week. The exchange's share of the Bitcoin futures market had collapsed to just 0.08%, with daily trading volume falling to roughly $84 million — a fraction of its former dominance. The announcement triggered a sharp decline in the value of BitMEX's utility token, BMEX, and the exchange now faces a class-action lawsuit alleging it fraudulently engineered customer liquidations.
BitMEX's closure follows a similar announcement from BitMart, which also said it would wind down operations in the coming months. Industry watchers noted the moves accelerate consolidation in crypto trading: the top five exchanges now control an estimated 80% of global spot trading volume, according to data cited in Cointelegraph's Hodler's Digest.
Clarity Act's Odds Slide to 38%
Meanwhile, prospects for the CLARITY Act — legislation meant to establish a federal market-structure framework for digital assets — have dimmed. Prediction market Polymarket now prices the bill's passage odds at just 38%. Senate Majority Leader John Thune acknowledged the Act currently lacks sufficient votes but suggested he may bring it to a floor vote regardless “to get Clarity started.”
The bill's current draft includes an ethics provision barring US officials from issuing or sponsoring digital assets, with those restrictions set to expire in 2029. Enforcement would fall to the Trump-appointed Attorney General, a structure Democrats have pushed back on in favor of state attorneys general handling oversight instead.
Despite the uncertainty, the bill retains high-profile institutional backing. Goldman Sachs CEO David Solomon called the legislation “not perfect” but voiced support regardless, while Fidelity and Charles Schwab have also backed the framework. The National Fraternal Order of Police, representing hundreds of thousands of members, has signaled support as well.
Security Incidents Climb Sharply
The digest also flagged a surge in physical “wrench attacks” targeting crypto holders in the first half of 2026: 52 incidents were recorded, up 33.3% from 39 in the same period of 2025. Home invasions jumped to 20 from just one previously, kidnappings rose to 16 from 12, and total financial exposure from these attacks reached $124.1 million, up from $10.5 million a year earlier.
Separately, two bridge exploits struck within seven hours of each other, draining a combined $31.6 million — $24.15 million from AFX and $7.5 million from Verus Protocol.
Markets and ETF Flows
Bitcoin ended the week at $65,395 and Ether at $1,958, with total crypto market capitalization at $2.24 trillion. Ethereum ETFs saw $70.62 million in net outflows on Friday, even as the funds notched a third consecutive week of net inflows and pulled in $337.74 million for the month of July. Bitcoin ETFs recorded $33.9 million in net inflows over the same period.
In a separate development, S&P Dow Jones Indices and Pantera Capital launched the S&P Pantera Digital Asset Index, tracking 18 constituent tokens at launch while notably excluding both Bitcoin and XRP. Its top five holdings are Ether, BNB, Solana, TRON, and Hyperliquid.
