BitMart Explores Restructuring and Creditor Payouts Days Before Its Final Trading Day

BitMart Explores Restructuring and Creditor Payouts Days Before Its Final Trading Day

BitMart said Friday it is developing a potential restructuring plan that could combine a phased restart of some operations with distributions to creditors, less than four weeks after telling users it would wind down entirely. The Cayman Islands-based exchange said it has appointed law firm White & Case as restructuring counsel and said it will publish a roadmap no later than Sept. 9. The announcement landed days before BitMart’s trading deadline…

BitMart weighs phased restart and creditor payouts

BitMart hired White & Case to assess creditor distributions and a phased restart, with another restructuring update due by Sept. 9.

BitMart Weighs Partial Restart After Shutdown

Crypto exchange BitMart is considering a restructuring that could combine distributions to creditors with a phased restart of some operations, less than four weeks after saying it would shut down, CoinDesk reported. The proposed plan “The potential plan may include the phased resumption of certain operations in an orderly manner alongside distributions to creditors,” BitMart said in an announcement. The exchange has hired White & Case as restruc…

BitMart is talking about reopening before it has answered the withdrawal question

BitMart is exploring a restructuring that could allow parts of the crypto exchange to resume operations, offering an alternative to the full wind-down announced last month as customers continue to report difficulties withdrawing their assets. On Aug. 21, the exchange said a potential restructuring plan could include a phased resumption of some services alongside distributions to creditors, subject to further legal, financial, operational and reg…

BitMart suggests restructuring weeks after closure announcement

Crypto exchange BitMart might not be shutting down after all, following this weekend’s announcement of plans to explore a potential “restructuring plan.” BitMart says the plan may involve the phased “resumption of certain operations in an orderly manner alongside distributions to creditors.” Restructuring counsel White & Case has been hired to help BitMart assess its options, while a roadmap detailing its future will be released “no later than S…

BitMart Reviews Phased Restart As Trading Deadline Nears

BitMart is exploring a restructuring plan that may include creditor distributions and a phased restart of selected operations. The announcement came less than four weeks after the exchange revealed plans for a complete wind-down process. The platform announced the review on Aug. 21 and appointed White & Case as restructuring counsel. It expects to release […]