BitMart to Wind Down Exchange as BMX Tanks
BitMart said withdrawals remain open, but users may face added identity and compliance checks as BMX fell nearly 70% after the announcement.
- On Sunday, cryptocurrency exchange BitMart announced it will wind down operations after nine years, sending its native token BMX down 58% over 24 hours. Trading ends Aug. 26, with the platform ceasing operations Jan. 31, 2027.
- BitMart attributed the decision to its "operating conditions, market environment, and future strategic direction." The exchange joins BitMEX and Dango, which both announced closures this week as crypto platform consolidation accelerates.
- Former CEO Nenter Chow stated on Sunday he was terminated Friday and excluded from shutdown decisions. Arkham data showed BitMart wallets held about $71 million in crypto assets, down from roughly $102 million on July 6.
- Users reported withdrawal delays amid confusion between BitMart and BitMEX, prompting the exchange to warn that requests face additional compliance reviews. BitMart urged users to close positions before the August cutoff.
- BMX, already down about 70% over the past year, saw Sunday's 58% crash extend a long decline rather than start one. Despite closure, BitMart reported about $1.6 billion in 24-hour volume, suggesting users unwound positions.
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BitMart Withdrawal Processing Appears To Slow Following Wind-Down Announcement
BitcoinWorld BitMart Withdrawal Processing Appears to Slow Following Wind-Down Announcement Withdrawal processing times on the cryptocurrency exchange BitMart appear to have slowed significantly following the platform’s recent announcement that it is winding down operations, according to on-chain data and user reports. The development raises immediate concerns about user fund accessibility and the exchange’s ability to honor withdrawal requests…
Bitcoin's price rose above $65,000 today as selling pressure eased and the cryptocurrency exchange BitMart announced its closure after 9 years of operation.
BitMart Begins Shutdown Process as Crypto Exchange Sets Final Trading Deadline
BitMart is winding down its global trading platform after announcing a phased shutdown that will halt deposits, trading services, and eventually end exchange operations. BitMart Announces Phased Exchange Shutdown with Trading Deadlines Crypto exchange BitMart announced on July 26, 2026, that it has begun an orderly wind-down of its trading platform operations following an evaluation […]
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