BitMart Announces Shutdown and Ceases Trading in 2026
BitMart, a nine-year-old crypto exchange, has announced it will shut down operations in stages. The exchange has already frozen new registrations and deposits, with all trading to cease by August 26, 2026. Users are advised to withdraw their funds promptly as the closure date approaches.
The exchange attributes delays in withdrawals to enhanced compliance checks during the wind-down process. Despite these temporary freezes and delays, users have been withdrawing around 300 ETH per hour.
BitMart's native BMX token has plummeted over 58% following the shutdown news. While the closure has not impacted broader Ethereum markets, users are advised to act quickly as withdrawal capacity may tighten closer to the final shutdown date of January 31, 2027.