Crypto platform BitMart officially announced Sunday the cessation of its operations after nine years of service, citing a thorough evaluation of its operating conditions and strategic direction. New registrations, deposits and orders were suspended immediately, while complete closure of exchange services will occur on August 26 and operations will officially cease on January 31, 2027. CEO Nenter Chow was terminated on Friday, and according to Arkham data, no BTC withdrawals were processed in the last 24 hours, with only $300,000 in stablecoin outflows recorded. This shutdown is part of a broader crypto sector consolidation wave that has also seen Movement Labs, AscendEX, Loopring, Polygon zkEVM, and Radiant Capital announce their exits.
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