BitMart Bites the Dust: Another Major Crypto Exchange Calls It Quits
BitMart, a cryptocurrency exchange that emerged during the 2017 bull market, has announced its plans to shut down. The platform has been in operation for nearly nine years and has expanded to list over 1,700 cryptocurrencies.
New user registrations have already been halted, as well as deposits and new trading orders. A month from now, on August 26th, BitMart will cease all trading services. However, withdrawals will remain available until the platform's official shutdown at the end of January at 15:59 UTC.
The company has urged users to close their trading positions, complete any necessary Know Your Customer (KYC) procedures, and transfer out their funds as soon as possible. The exchange's native token, BMX, saw an immediate price drop of over 60% following the announcement.