RootData reported 99 crypto projects that ceased operations, filed for bankruptcy, or had inaccessible websites since January 2026, including major players such as BitMart, BitMEX and AscendEX. Centralized exchanges are particularly affected: BitMEX will cease operations on September 23, BitMart began a phased shutdown on July 26 with full closure planned for January 31, 2027, while AscendEX closed on July 1 citing European regulatory constraints and financial difficulties. DeFi protocols such as Loopring also shut down after failing to achieve sufficient adoption. Despite these widespread closures, the crypto market raised 22.73 billion dollars in 2025, showing that capital continues flowing toward projects deemed more viable.
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