Cryptocurrency exchange BitMart announced it will cease operations on January 31, 2027, but is processing withdrawals at a dramatically slow rate. In the 24 hours following the announcement, only 63 withdrawal requests were processed, totaling approximately $800,000. Deposits, new account registrations, and new trades have already been disabled, with all services except withdrawals ending on August 21. CEO Nathan Chow stated he was not involved in or informed about the closure decision. Despite shutting down, BitMart ranks third on CoinGecko with $1.8 billion in 24-hour trading volume.
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