BitMart Starts Preparing Plan for Partial Relaunch of the Exchange
Cryptocurrency exchange BitMart is developing a potential restructuring plan as an alternative to a full wind-down. This plan could involve a partial, phased resumption of some operations and payments to creditors. The exchange is discussing this possible scenario with its community, stakeholders, and advisors. The final decision will depend on legal, financial, operational, and regulatory assessments.
BitMart has appointed White & Case as its restructuring advisor to evaluate options and help draft the plan. A roadmap is being prepared, with an update promised by September 9, 2026, followed by community discussion.
This follows BitMart's July 26 announcement of an orderly wind-down, with all trading services set to stop by August 26 and operations officially ending by January 31, 2027. Users have since complained about being unable to withdraw funds, despite assurances from founder Sheldon Xia. A CEO from another firm has accused BitMart of insolvency, noting the platform sought locked tokens for liquidity just before its closure announcement.
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