Overview
- BitMart began an orderly wind-down on Sunday, halting new registrations and deposits and setting August 26 as the last trading day and January 31, 2027 as the full shutdown date.
- BitMEX said last week it will close after a strategic review and set September 23 as its shutdown date following a failed sale attempt and litigation over its operations.
- Users and on-chain trackers report slow or limited withdrawals from BitMart, while the exchange says some requests may undergo manual KYC, device, sanctions and source-of-funds reviews that could lengthen processing times.
- Market signals have followed the exits: BitMart’s BMX token collapsed more than 70–80%, on-chain analysis shows large transfers from tracked wallets, and analysts call the moves part of a broader exchange shakeout.
- The exits highlight wider pressures on mid-tier venues — higher compliance costs, regulatory changes and strained business models — and could concentrate liquidity with a few large platforms, increasing counterparty risk for users and reshaping market structure.