BitMart Joins BitMEX in Exit from Crypto Exchange Market

BitMart has announced its decision to shut down, following an evaluation of its operating conditions and market environment. The exchange cited strategic direction as the reason for the closure, rather than insolvency or enforcement action. This decision comes just three days after BitMEX told users it was closing after eleven years.

The shutdown is staged, with new user registrations stopping immediately, all crypto and fiat deposits suspended, and futures accounts switching to reduce-only mode. Spot trading will stop accepting new orders on July 26, 2026, at 01:30 UTC. By August 26, 2026, at 01:00 UTC, all spot, futures, and other trading services will end.

BitMart recommends users complete identity verification and close all positions before August 26, 2026, at 01:00 UTC. Withdrawal requests should be submitted before August 26, 2026, at 05:00 UTC. The exchange also warns about impersonation scams during the wind-down.

The BitMart shutdown is part of a larger trend in the crypto industry, where mid-tier exchanges are struggling to stay competitive due to rising compliance costs and decreasing revenue. This has led to a concentration of liquidity into larger venues, making it increasingly difficult for smaller exchanges to operate profitably.