Centralized exchange BitMart announced that it is developing a potential restructuring plan as an alternative to a complete wind-down of its business. It may involve a phased resumption of some operations and payments to creditors.
Update Regarding BitMart’s Potential Restructuring and Business Resumption Plan
— BitMart (@BitMartExchange) August 21, 2026
Dear BitMart Users,
We are writing to update you on developments further to our announcement dated 26 July 2026. We appreciate the community’s patience during this period.
Following further...
BitMart is discussing a possible scenario with the community, stakeholders, and advisors. The decision regarding a partial relaunch and payments will depend on legal, financial, operational, and regulatory assessment.
The company has appointed White & Case as its restructuring advisor. The firm, along with other advisors, will evaluate available options and help assemble a plan for the phased resumption of operations.
The advisors are currently preparing a roadmap. BitMart has promised to release an update no later than September 9, 2026, and to disclose details as they become available. After preparing the document, the company intends to put any business resumption plan up for discussion with the community.
On July 26, BitMart announced the start of an orderly wind-down of its trading platform operations. At that time, the exchange stated it would gradually stop registering new users, deposits, and the placement of new orders. The cessation of all spot, futures, and other trading services is scheduled for August 26, with an official closure on January 31, 2027.
Following the exchange's announcement, users began complaining en masse about the inability to withdraw funds, contrary to promises. In early August, BitMart founder Sheldon Xia responded to the complaints for the first time, assuring that client assets had not been misappropriated.
Despite his statement, OpenGradient co-founder and CEO Matthew Wang accused the exchange of insolvency. He noted that about a week before the closure announcement, the platform had asked token holders to lock up their assets to attract liquidity.
Recall that in July, crypto exchange BitMEX also announced it would cease operations on September 23.
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