BitMart Shuts Down Exchange Due to Operating Conditions
BitMart has announced a phased shutdown of its global cryptocurrency exchange due to 'operating conditions, market environment, and future strategic direction'. The platform stopped new registrations, cryptocurrency and fiat deposits, and new spot orders from July 26. Futures accounts have entered reduce-only mode, while copy trading, grid trading, API trading, and other automated services are being wound down.
The exchange will end all spot, futures, and other trading services at 01:00 UTC on August 26. However, the full platform will not close on that date. BitMart plans to terminate trading-platform operations at 15:59 UTC on January 31, 2027. Users will retain limited account access for a period after that date to review records and submit withdrawals.
BMX, the exchange's platform token, fell by around 63% during the 24 hours surrounding the announcement. The planned end of trading removes much of the direct use of BMX, which provides trading-fee discounts and other platform benefits.