BitMart to Wind Down Platform, Halting All Operations by January 31st
BitMart is winding down after nine years, ending trading Aug. 26 and closing fully in 2027. BMX crashed 60% as the CEO says he learned last.
Cryptocurrency exchange BitMart announced today, July 26th, that it is beginning an orderly closing of its trading platform after nearly nine years in operation. The company attributed the decision to a careful evaluation of its operating conditions, market environment, and future strategic direction, without providing further specifics. The exchange had recently reported about $100.4 million in daily trading volume.
New registrations, deposits, and trading orders were suspended starting today, July 26, with futures accounts switched to reduce-only mode. All spot and futures trading will end at 1:00 UTC on August 26, 2026. The platform itself is set to cease operations on January 31, 2027, though users will retain limited access afterward to view records and request withdrawals. Withdrawals remain open in the meantime, but BitMart has urged customers to close positions and submit requests promptly, as later ones may face extra compliance checks that could cause delays.
BitMart's native token, BMX, tumbled roughly 58-60% within 24 hours of the announcement. Global CEO Nenter Chow said he was informed of his termination on July 24, played no role in the decision, and only learned of the wind-down when it became public.
The closure is the second major exchange announcement in under a week, following BitMEX's decision to shut down permanently on September 23. Users are advised to act through official channels only and to complete withdrawals carefully amid elevated phishing risks.
