Key Takeaways
- BitMart stops new registrations, deposits, and new trading activity starting July 26, 2026.
- The exchange plans to end all trading services on Aug. 26, 2026, before fully ceasing operations.
- Former BitMart Global CEO Nenter Chow said he was not involved in the shutdown decision and learned of the announcement publicly.
BitMart Announces Phased Exchange Shutdown with Trading Deadlines
Crypto exchange BitMart announced on July 26, 2026, that it has begun an orderly wind-down of its trading platform operations following an evaluation of its business conditions, market environment, and future strategy. The decision affects users worldwide and initiates a phased shutdown of services ahead of the platform’s planned closure.
BitMart shared the shutdown timeline through its official X account, outlining key dates for registration, deposit, trading, and platform termination milestones.
The exchange began restricting new registrations and suspending cryptocurrency and fiat deposits at 01:30 UTC on July 26, advising customers not to send additional assets, as late transfers may not be credited automatically.
At the same time, BitMart limited trading activity by placing futures accounts into reduce-only mode and blocking the opening of new positions. Spot markets stopped accepting new orders, while copy trading, grid trading, API trading, and other automated services were also gradually phased out.
The platform is scheduled to discontinue spot, futures, and other trading services on Aug. 26, 2026, at 01:00 UTC. Any remaining futures positions at that time may be settled based on the platform’s applicable mark price, index price, or other established settlement procedures during the closure process.
Former CEO Says He Was Excluded From Shutdown Decision
Former BitMart Global CEO Nenter Chow addressed the shutdown announcement on X, explaining that his departure from the company began before the platform disclosed its wind-down plans. Chow stated that he was informed on July 24, 2026, that his employment as Global CEO was being terminated and that his offboarding process would begin immediately, although he had not received a confirmed final date.
“Since 24 July I have had no role in the management or decision-making of the company and have not been consulted on any operational matters,” Chow wrote, adding:
“I was not involved in the decision announced today, not consulted on it, and not informed of it. I learned of it when it became public.”
BitMart said withdrawals will remain available throughout the wind-down period, although some requests may require identity verification, security checks, sanctions screening, source-of-funds reviews, or other compliance procedures before completion.
The exchange also warned users about impersonation scams during the transition, emphasizing that BitMart employees will not request passwords, private keys, recovery phrases, authentication codes, or payments for faster withdrawal processing.
Exchange Closures Highlight Focus on User Asset Access
BitMart’s planned closure follows other crypto platform exits that have required users to move assets and navigate withdrawal deadlines. Exchange shutdowns can create operational challenges for customers, particularly when large numbers of users attempt withdrawals simultaneously or face additional compliance checks.
BitMEX announced on July 23, 2026, that it would close its crypto exchange on Sept. 23, 2026, following a strategic review of the business and broader digital asset market. The exchange, operated by HDR Global Trading Limited, said it would immediately stop new account registrations while allowing existing users time to close positions and withdraw funds before the shutdown deadline. The BitMEX shutdown process and withdrawal guidance highlighted how exchange closures require users to monitor deadlines, secure assets, and remain cautious of phishing attempts targeting customers during transition periods.
Regulatory developments have also reshaped how crypto platforms operate in major markets. Binance’s suspension of services in some European markets showed how compliance requirements can influence exchange availability and product access for customers.
BitMart said it expects to officially terminate platform operations at 15:59 UTC on Jan. 31, 2027. After that date, users will still have access for a specified period to review account records and submit withdrawal requests under procedures announced by the company.
