BitMart said it has appointed Alvarez & Marsal, or A&M, as its external financial adviser. According to a post from the exchange’s X account, the firm will work with BitMart and its legal counsel to assess the company’s financial position, stakeholder issues, and arrangements for an orderly withdrawal process. BitMart said it plans to provide rolling updates over the next three weeks on user feedback channels, comment collection, and its action plan. The exchange also said it will launch a data verification and user feedback portal within five business days. In addition, BitMart said it intends to appoint an independent third party in the near term to oversee company operations and the safekeeping of assets during the transition period, with the stated aim of protecting user interests. Foresight News previously reported that BitMart announced on Aug. 22 that it was developing a potential restructuring plan as an alternative to full liquidation.
BitMart said in a post on X that it has appointed Alvarez & Marsal, or A&M, as its external financial adviser.
The firm will assist BitMart and its legal counsel in assessing the company’s financial condition, stakeholder issues, and arrangements for an orderly withdrawal process.
With support from A&M, BitMart said it plans to issue rolling updates over the next three weeks on user feedback channels, comment collection, and its action plan.
The exchange also said it will launch a data verification and user feedback portal within five business days. It added that it plans to appoint an independent third party in the near term to oversee operations and the safekeeping of assets during the transition period, in order to protect user interests.
Foresight News previously reported that BitMart announced on Aug. 22 that it was preparing a potential restructuring plan to replace full liquidation.
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