After Bit.com and BitMEX, BitMart Also Announces Its Closure

The cryptocurrency market continues to lose several historic platforms. Within a few months, Bit.com and then BitMEX announced their gradual disappearance. Now, BitMart also confirms the cessation of its activities according to a specific schedule. This new closure directly affects the users of the exchange, invited to close their positions and withdraw their assets before the different deadlines set by the platform. This succession of announcements marks a new phase for several industry players.

BitMart becomes the third exchange to announce its closure

The crypto exchange BitMart has officially announced the gradual closure of its trading activities in a statement published on Saturday. The platform explained that this decision results from an evaluation of its operating conditions, the market environment, and its future strategic direction. No specific event is cited to justify this decision, but the company confirms a precise schedule that will span several months.

New registrations, deposits, and new orders are gradually suspended. All spot trading services, futures, as well as other products, will be stopped as part of the announced closure schedule. BitMart then plans to definitively end operations of its trading platform, while maintaining temporary account access so users can view their statements and make their last withdrawal requests.

Here are the main deadlines announced by BitMart:

• July 26, 2026: official announcement of BitMart’s progressive closure.
• August 26, 2026, at 1 AM UTC: halt of trading services and recommended deadline to close positions.
• August 26, 2026, at 5 AM UTC: advised deadline to submit withdrawal requests.
• January 31, 2027, at 3:59 PM UTC: final platform closure.

The platform invites its users to respect these deadlines to facilitate the recovery of their assets. Withdrawal requests made after the recommended date will still be possible but may be subject to additional checks concerning identity, source of funds, international sanctions, or security.

At the same time, BitMart is gradually reducing all its services. Futures accounts are now limited to position reduction operations only. New spot orders are no longer accepted. Copy trading, grid trading, and API trading, as well as BitMart Earn, staking, lending, and Launchpad products, will also disappear according to the announced schedule.

The announcement immediately affected the BMX token. According to Coingecko data, it was trading around $0.05793 at the time of writing, a drop close to 60% in twenty-four hours. This reaction reflects the immediate impact of the announced closure on investors and on the platform’s ecosystem.

The CEO’s departure adds a new area of uncertainty

The closure of BitMart is accompanied by an unexpected episode concerning its management. Global CEO Nenter (Nathan) Chow stated on X that his employment contract was terminated on July 24 and that his departure took effect immediately.

According to his statements, he had no longer participated in the management or decision-making of the company since that date. He also claims he was not consulted about the platform’s liquidation and discovered this announcement at the very moment it was made public. Finally, he specifies that no definitive departure date was communicated to him.

The executive explains that his main concern now regards BitMart’s users and employees. He recommends customers follow only the official communications of the platform and respect the published schedule to avoid any difficulties during the closure of services. At the time of his statement, the company had not yet publicly responded to his remarks.

This statement quickly attracted attention because it comes just hours after the official closure announcement. Nathan Chow’s declarations show he was no longer associated with the company’s strategic decisions when the activity cessation plan was made public. BitMart has not provided any further details regarding this situation.

BitMEX and Bit.com had already started their gradual closure

BitMart’s announcement follows two other significant closures in the industry. A few days earlier, BitMEX confirmed the permanent shutdown of its exchange, planned for September 23, 2026, after eleven years of operation. Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, the platform became known for the perpetual contract and leveraged trading up to 100x, becoming for several years a reference in the cryptocurrency derivatives market.

Like BitMart, BitMEX chose a gradual closure. New registrations are already halted, and the first restrictions will take effect starting August 26. New positions will then be blocked before the closure of still open contracts, followed by the platform’s definitive shutdown on September 23. Users who keep assets after this deadline will have to pay maintenance fees of $50 per month, or an annual billing equivalent to 1% of the remaining assets, encouraging quick withdrawal of funds.

A few months earlier, Bit.com had already set its own shutdown schedule. This exchange had presented a structured plan expected to end on March 31, 2026, with an immediate stop of registrations from December 27, 2025. Users were invited to withdraw their funds or transfer them to Matrixport, while spot trading ended on January 31, 2026, before restrictions on contract trading were implemented.

Bit.com then reserved a final period dedicated only to withdrawals. The company also advised its users to act quickly to avoid automatic conversions of certain assets and to stay vigilant against scam attempts likely to appear during this shutdown phase. Like BitMart and BitMEX, the platform favored a progressive schedule to allow clients to recover their assets before the definitive stop of its services.

The successive announcements from Bit.com, BitMEX, and BitMart illustrate a transition period for several historic platforms in the crypto industry. Each has chosen a gradual closure schedule, with precise deadlines designed to organize the end of its services and the withdrawal of users’ assets. The coming months will allow for the following the implementation of these different shutdown plans. For the concerned clients, the dates communicated by each exchange now remain the main reference to carry out their final operations before the definitive stop of these platforms.