Residual Balance After an Exchange Closure: The Fee

When a crypto exchange closes, only trading ends at first. The account stays in place initially, and it is precisely that gap that now costs money: at the two wind-downs whose deadlines bite this week, a balance you have not withdrawn is charged a monthly fee from the closing date onwards. At BitMEX, under the published rule, that is $50 a month or 1 percent a year, whichever is greater.

The difference from the familiar delisting notice matters. In a delisting, a single token disappears from trading, and you generally have months to move it out. In a shutdown, the whole account is at stake, and the period afterwards is no longer neutral parking. It is paid custody, at a price the provider sets itself.

Residual Balance After a Crypto Exchange Closure: What the Term Means

A residual balance is the holding still sitting in the account of a winding-down exchange after the last trading day. That can be crypto assets, euro or dollar amounts from a final sale, and equally fragments left behind below the minimum withdrawal threshold.

Three routes are open to such a holding, and they differ considerably. It can be held in custody and priced for it, it can be sold off by the provider, or it can end up in a separate procedure with its own evidence requirements. Which route applies is decided by the wind-down notice of the provider in question; the size of the balance plays no part in it.