BitMart to Wind Down Exchange; Trading Ends Aug. 26
BitMart will halt all trading on Aug. 26 and fully cease operations on Jan. 31, 2027, while stopping new registrations and processing withdrawals during a staged wind-down.
BitMart will wind down its cryptocurrency exchange, stopping all trading on Aug. 26 and ending operations on Jan. 31, 2027. The platform has paused new user registrations and deposits as it executes a staged shutdown.
In a company notice, BitMart’s statement read: “After a careful evaluation of the Company’s operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations.” Under the plan, futures trading has been placed into reduce-only mode and spot markets are no longer accepting new orders.
The exchange said it will continue to process withdrawals but warned some requests may be subject to additional compliance and security reviews that could extend processing times. The company did not immediately respond to requests for comment.
BitMart’s native token, BMX, fell sharply after the announcement. At the time of reporting, BMX traded around $0.09464, down roughly 70% from about $0.31 late Friday. The token briefly traded near $0.1058 early Saturday before slipping below $0.10.
Users reported longer-than-usual withdrawal times, with multiple customers saying Tether (USDT) requests remained pending for hours. Blockchain analytics showed wallets linked to the exchange held roughly $71 million in crypto assets on Sunday, down from an estimated $102 million on July 6. The tracked holdings included about $41.5 million in WFI tokens and about $91,000 in USDT.
Other trading platforms, including BitMEX and Dango, have also announced plans to close trading services in recent months.
Social media activity showed confusion between BitMart and other exchanges; some users mixed up BMX with a different exchange token, BMEX. Market participants noted that overlapping reports coincided with volatile short-term token trading.
Existing customers should not open new accounts or make deposits and are advised to withdraw assets during the wind-down period ahead of the final cessation on Jan. 31, 2027.
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