BitMart to gradually cease platform operations through Jan. 31, 2027
BitMart is winding down deposits, new orders and trading ahead of an Aug. 26 halt, while BMX tumbled more than 53% in 24 hours as the shutdown timetable took effect.
BitMart has begun an orderly wind-down of its exchange after deciding that operating conditions, the market environment and its long-term strategy no longer support continuing operations. Starting July 26, 2026, it is phasing out new user registrations, fiat and crypto deposits, new futures positions, spot orders, copy trading, grid trading, API trading and other automated services, with spot and futures trading set to cease on Aug. 26 and full platform operations expected to end on Jan. 31, 2027. CoinGecko data on July 26 showed BitMart platform token BMX falling more than 53% in 24 hours to $0.0805, cutting its market capitalization to $27.2 million. Withdrawals will remain available, subject to compliance checks such as KYC verification, Travel Rule requirements, sanctions screening and source-of-funds reviews. After the shutdown notice, MSX founder Bruce J said on X that he had contacted the BitMart team about acquiring the exchange and would make spot and futures trading free after completing transfer procedures if a deal is completed, but no transaction has been announced.
- Travel Rule: A compliance requirement that obliges crypto service providers to collect and share certain sender and recipient information for transfers.
- KYC verification: Customer identity checks used by financial platforms to confirm who a user is before allowing certain services or withdrawals.
- API trading: Automated trading carried out through software that connects directly to an exchange’s systems.