BitMart to wind down exchange, end trading by Aug. 26
BitMart is winding down its crypto exchange, ending all trading services on Aug. 26 and fully ceasing operations on Jan. 31, 2027. It said the decision followed an evaluation of operating conditions, market conditions, and future strategy. As part of the shutdown, it has stopped new user registrations and deposits, futures are in reduce-only mode, and spot markets no longer accept new orders. BMX, BitMart’s native token, fell nearly 70% as users reported delayed withdrawals, including pending USDT requests. BitMart said some withdrawals may face extra compliance and security reviews, which could slow processing. The closure adds to a wave of exchange shutdowns, including recent announcements from BitMEX and Dango. Some online users appeared to confuse BitMart’s BMX with BitMEX’s BMEX during the selloff.
