Jul 26, 2026, 6:59 a.m. 2 min readCrypto exchange BitMart to shut down after nine years. (Tim Mossholder/Unsplashed, modified by CoinDesk)SummaryCryptocurrency exchange BitMart will wind down its trading platform after nine years, halting all trading by Aug. 26 and fully ceasing operations on Jan. 31, 2027.The closure, attributed vaguely to operating conditions, the market environment and future strategy, sent BitMart’s BMX token down about 58% in 24 hours, extending a yearlong slide of roughly 70%.BitMart, which recently reported about $1.6 billion in 24-hour trading volume, is keeping withdrawals open but warns of extra identity and security checks that could delay processing as users rush to exit.Cryptocurrency exchange BitMart said Sunday it will wind down its trading platform, ending nine years of operation and sending its exchange token down almost 60% after the announcement.It is the second crypto exchange to announce a closure in the same week, with perpetuals trading powerhouse BitMEX saying Thursday it would shut down after 11 years, as CoinDesk reported.The exchange stopped accepting new registrations, deposits and new trading orders from 01:30 UTC on Sunday, it said, with futures accounts moving to reduce-only mode.All trading, spot and derivatives, ends on Aug. 26, and the platform formally ceases operations on Jan. 31, 2027. Withdrawals stay open throughout, though BitMart urged users to complete identity checks, close positions and submit withdrawal requests before the August cutoff.Important NoticeAfter a careful evaluation of the Company's operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations. We deeply regret having to make… pic.twitter.com/KX3zczIrAh— BitMart (@BitMartExchange) July 26, 2026