Crypto exchange BitMart is considering a restructuring plan less than a month after announcing it would shut down its platform, according to a company notice cited by Blockcast. The proposal under review could combine an orderly restart of some operations with asset distributions to creditors, marking a sharp shift from the exchange’s earlier wind-down plan.
BitMart said it has hired international law firm White & Case as restructuring adviser and expects to publish a detailed roadmap on Sept. 9. The exchange has not yet said which parts of the business could resume, how creditors would be paid, or what funding structure would support the plan.
The move follows BitMart’s July 26 shutdown notice, in which the company cited operating conditions, the market environment, and future strategy, but did not disclose a specific reason for closing. At the time, BitMart had already stopped new user registrations, deposits, and order placement, while futures accounts were shifted to reduce-only mode. Under its original plan, all trading was set to stop on Aug. 26, with full platform operations ending on Jan. 31, 2027. Users were still allowed to withdraw funds before that date, subject to additional compliance checks. After the initial shutdown announcement, BitMart’s platform token BMX fell as much as 58% in a single day and was down 83% for the year.
Crypto exchange BitMart is evaluating a restructuring plan less than a month after announcing that it would shut down its platform. The proposal being considered could allow the company to restore some operations in stages while also distributing assets to creditors.
In a notice, BitMart said the potential plan may include an orderly resumption of certain business lines alongside asset distributions to creditors. The exchange said it has engaged international law firm White & Case as restructuring adviser and expects to release a detailed restructuring roadmap on Sept. 9.
Shift from the original shutdown plan
BitMart’s earlier shutdown notice, published on July 26, cited operating conditions, the market environment, and future development strategy. It did not give a specific reason for closing the platform.
After about nine years in the crypto market, BitMart had already stopped accepting new user registrations, deposits, and trading orders. It also moved futures accounts into reduce-only mode, meaning users could close positions but could not open new ones.
Under the original plan, BitMart was set to halt all trading on Aug. 26 and fully terminate platform operations on Jan. 31, 2027. Until then, users could still withdraw funds, but only after additional compliance reviews.
BMX fell sharply after the first announcement
Following the initial shutdown notice, BitMart’s platform token BMX came under heavy pressure. Its single-day decline reached 58%, while its year-to-date loss widened to 83%.
BitMart is now assessing a phased restart of some operations, a sign that the original closure plan may still be adjusted. The company has not disclosed which business lines might be restarted, how creditors would receive distributions, or the specific funding arrangements behind the restructuring plan.
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