BitMart Announces Orderly Shutdown Amid Ongoing Bear Market
BitMart, one of the world's largest cryptocurrency exchanges by trading volume, has announced an orderly shutdown of its operations. The exchange stated that it made this decision after evaluating 'operating conditions, market environment, and future strategic direction.'
The wind-down process will be conducted in an orderly manner, with new user registrations halted on July 26 at 01:30 UTC. Fiat deposits will also be suspended, and all trading activity will cease by August 26 at 01:00 UTC.
BitMart has consistently ranked among the top global exchanges alongside industry giants such as Binance, Coinbase, OKX, Bybit, KuCoin, and others. The platform supported hundreds of cryptocurrencies and served users across multiple regions.
This shutdown marks the second major trading platform to announce its closure this year amid the ongoing bear market, following BitMEX's announcement earlier this week.