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Crypto

BitMart Appoints Financial Advisor Amid Withdrawal Restrictions

Guavy AI Editorial Team
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BitMart, a cryptocurrency exchange, has appointed Alvarez & Marsal as its financial advisor to review its assets and withdrawals. The exchange halted trading on August 26 due to an orderly platform wind-down announced in July.

The appointment of A&M does not reverse the trading halt or provide users with a confirmed repayment schedule. BitMart will work alongside its legal advisers to assess its finances, stakeholder matters, and arrangements for an 'orderly withdrawal' process.

A&M will review BitMart's current operations and asset position before the exchange releases related financial information. Users can submit opinions about withdrawals and BitMart's future direction through a dedicated website that will be established by BitMart within five business days.

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