BitMart to Shut Down Operations by January 2027, BMX Token Crashes 58% in 24 Hours

According to CoinDesk, crypto exchange BitMart announced on July 26 that it will cease operations on January 31, 2027. The Cayman Islands-based platform halted new registrations, deposits, and trading orders from 01:30 UTC on July 26, with all spot and derivatives trading ending on August 26. BitMart, which claims 5.5 million users globally, cited "operating conditions, market environment, and future strategic direction" for the shutdown. The platform will keep withdrawals open, though requests may undergo additional identity and compliance checks. BitMart's exchange token BMX fell approximately 58% in 24 hours to around $0.08, leaving it with a market capitalization of roughly $27 million.
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