BitMart Announces Orderly Wind-Down of Trading Platform

BitMart, a cryptocurrency exchange founded in 2017 by Sheldon Xia, has announced its decision to wind down its trading platform operations. The company cited current operating conditions and market circumstances as the reason for this move.

The exchange will begin an orderly wind-down process, gradually stopping new user registrations, suspending fiat and crypto deposits, and phasing out automated services starting July 26, 2026.

Trading across spot and futures markets will cease on August 26, while investment products including Earn, staking, lending, and Launchpad will be retired separately. Users are advised to withdraw their assets as early as possible by completing KYC verification, closing open positions, and submitting withdrawal requests before the August 26 deadline.

The exchange expects to officially cease platform operations on January 31, 2027, although users will temporarily retain access to their accounts for withdrawals and historical records afterward. BitMart's wind-down comes amid a prolonged crypto market downturn that has forced several companies to shut down or scale back operations.