BitMart Winds Down Trading Operations Amid Market Turmoil
BitMart will cease trading operations by August 26 and shut down entirely on January 31, 2027. The exchange's decision to wind down is attributed to a careful evaluation of its operating conditions, market environment, and future strategic direction.
In accordance with the shutdown plan, BitMart has stopped accepting new user registrations and deposits, while futures trading has entered reduce-only mode and spot markets no longer accept new orders.
The company's native token, BMX, lost nearly 70% of its value since late Friday. The token traded at about $0.09464 at the time of writing.
Several users reported delayed withdrawals from BitMart, with some claiming that Tether USDt (USDT) withdrawal requests remained pending for hours. The exchange warned that some withdrawal requests may be subject to additional compliance and security reviews, potentially extending processing times.