BitMart Considers Partial Restart Amid Creditor Distribution Plans

BitMart is considering a partial restart of its operations after announcing a shutdown just over four weeks ago. The exchange has hired White & Case as restructuring counsel and plans to provide a detailed roadmap by September 9.

The proposed plan would involve the phased resumption of certain operations alongside distributions to creditors, according to BitMart's announcement. This marks a change in tone from its initial closure notice, which cited operating conditions, market environment, and future strategy without giving a specific reason for the shutdown.

After nine years in operation, BitMart halted new registrations, deposits, and trading orders, moving futures accounts into reduce-only mode. It set August 26 as the deadline for all trading to end and planned to terminate platform operations on January 31, 2027, while keeping withdrawals available under additional compliance checks.

The shutdown announcement sent BMX token prices down about 58% over 24 hours, extending its year-to-date decline to 83%. Details of which operations might restart and how creditor distributions would work have not been disclosed, leaving users with funds still on the platform uncertain about their next steps.