BitMart Winds Down Exchange, Ending Trading on Aug. 26; BMX Token Plunges 70%

According to BitMart's official announcement on Sunday, the cryptocurrency exchange will wind down its trading platform operations, ending all trading services on Aug. 26 before ceasing operations entirely on Jan. 31, 2027. The company has stopped accepting new user registrations and deposits, with futures trading in reduce-only mode and spot markets no longer accepting new orders.

BitMart's native token, BMX, lost nearly 70% of its value, trading at about $0.09464 compared to $0.31 late Friday. Arkham data showed BitMart's wallets held approximately $71 million in crypto assets on Sunday, down from roughly $102 million on July 6. Users also reported delayed USDT withdrawal requests, with BitMart noting some withdrawals could face additional compliance reviews.