BitMart misses roadmap deadline, appoints financial adviser
BitMart appointed Alvarez & Marsal as financial adviser on its Sept. 9 update deadline, but did not release the restructuring and business-resumption roadmap it had promised. Alvarez & Marsal will work with BitMart’s legal advisers to assess assets, financial condition, stakeholder issues, and possible next steps, including any third-party proposals. BitMart also said it will launch a user-feedback portal within five working days and provide rolling updates over the next three weeks. The move was welcomed as a positive sign by Echo Base, which represents some claimholders, but it criticized BitMart for still providing no reserve position, asset inventory, recovery estimate, or withdrawal timeline. BitMart has faced growing scrutiny since its July 26 wind-down announcement and reports of withdrawal delays.
