Digital Finance & Tokenization▼
BitMart to Shut Down Trading Platform After Nine Years
Crypto exchange BitMart announced it will wind down its trading platform after nine years, sending its BMX token down 81% over the past week to $0.057 and cutting its market value to $19.6 million. The exchange stopped new registrations, deposits, and orders on Sunday and will end all spot and derivatives trading on August 26, with the platform formally closing on January 31, 2027. BitMart cited operating conditions, market environment, and future strategic direction for the decision, while withdrawals remain open subject to identity, device, sanctions, and source-of-funds checks. The shutdown follows perpetuals venue BitMEX's closure announcement days earlier, reflecting what Echo Base CEO Roshan Dharia called a period of significant consolidation in digital assets.