BitMart Announces Wind-Down of Cryptocurrency Exchange Operations
BitMart has announced that it will wind down its cryptocurrency exchange operations. The platform will stop trading services on August 26, before ceasing all operations entirely on January 31, 2027.
The decision was made after a careful evaluation of the company's operating conditions and market environment. BitMart cited its future strategic direction as a reason for the shutdown plan.
As part of the wind-down process, new user registrations have been stopped, and deposits are no longer being accepted. Futures trading has entered reduce-only mode, while spot markets can no longer accept new orders.
The company's native token, BMX, lost nearly 70% of its value in response to the announcement. Users also reported delayed withdrawals from the exchange, with some claiming Tether USDt (USDT) withdrawal requests remained pending for hours.