BitMart Becomes Third Exchange to Shut Down in a Month
BitMart, a centralized cryptocurrency exchange, announced on July 26 that it will shut down its trading platform and cease operations entirely by January 31, 2027. The shutdown makes BitMart the third exchange to do so within a month, following AscendEX and BitMEX.
The exchange stopped accepting new registrations, deposits, and futures accounts were placed into reduce-only mode at the same time. Spot markets will stop accepting new orders on August 26, and all remaining trading services will end at that time. Withdrawals remain open but are subject to identity verification, security checks, sanctions screening, and source-of-funds reviews.
BitMart Global CEO Nenter Chow was fired on July 24 without being informed about the shutdown decision. He stated that he learned of it when it became public, and has had no role in management or decision-making since then.
The BMX token, native to BitMart, fell by approximately 81.5% over seven days, with a decline of 58% on the announcement day.