BitMart to wind down operations, most services ending July 26
Regulation & Gov ·
The exchange said it will cease operations in stages, with the bulk of its platform functions closing on July 26 and users urged to move funds off the exchange.
BitMart has begun what it describes as an orderly cessation of its operations, according to a notice posted on its support site, which cites an evaluation of the company's operating conditions, the market environment, and its future strategic direction. The company said the majority of its services will shut down on July 26, though the wind-down is structured to unfold over a longer stretch rather than all at once.
Separate reporting in the same cluster lays out a longer timeline attached to the closure: trading is set to end on August 26, 2025, while full platform closure is slated for January 31, 2027. That gap between the July 26 service cutoff and the later trading and platform closure dates has not been reconciled in the material reviewed, leaving open exactly which functions remain active in the intervening months.
The exchange's native token, BMX, has been hit hard by the news, though the reported scale of the decline varies. One account describes a 60% drop tied to the shutdown announcement, while CoinDesk reported a 58% crash in connection with the exchange closing after nine years of operation. CryptoPotato also covered the closure, noting it as part of a wider pattern of major exchanges shutting down.
Across the cluster of reports, the core elements are consistent: BitMart is exiting the market through a staged, rather than immediate, closure, and it has explicitly told users to withdraw funds as soon as possible. What differs between accounts is framing and specific percentage figures for the BMX token decline, as well as which date is emphasized as the operative shutdown milestone — July 26 for service suspension, August 26 for trading cessation, or January 2027 for full closure.
Users have been advised to move their holdings off the platform without delay, but the material does not specify what happens to funds not withdrawn before the various deadlines, nor does it detail what triggered the decision beyond the general references to operating conditions and strategic direction cited in the company's own notice. Whether the exchange will provide further updates as each phase of the wind-down arrives, and how the BMX token performs through the multi-year closure window, remain open questions.