restructuring

BitMart

2026-08-24 09:13:51

BitMart Tells Users It Is Exploring a Restructuring Plan and Creditor Payouts

BitMart said it is working on a potential restructuring plan that could include a phased restart of some operations and distributions to creditors, just days before its final trading deadline. The Cayman Islands-based exchange said it has hired White & Case as restructuring counsel and will publish a roadmap by Sept. 9 at the latest. The company had already said on July 26 that it would cease operations after nine years, halt new registrations, deposits and new trading orders, and move futures accounts into reduce-only mode. BitMart said trading would end on Aug. 26 and the platform would terminate on Jan. 31, 2027. Since the July notice, users have reported blocked withdrawals. On Aug. 17, an open letter posted from BitMart’s Chinese-language X account asked founder Sheldon Xia and purported partner Nancy Li to open the company’s wallets, assets, liabilities and usable reserves for independent verification by Aug. 19. Lee said the account had been hacked and called the claims fabricated rumors, adding that he would file a police report. BMX is down more than 86% this year.

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BitMart

2026-08-22 15:16:41

BitMart weighs partial restart and creditor payouts, with roadmap due by Sept. 9

Crypto exchange BitMart is considering a partial restart and payouts to creditors weeks after it announced a shutdown, according to CoinDesk. The exchange has hired White & Case as restructuring counsel, a step that points to formal planning around its next phase. A more detailed roadmap is expected by Sept. 9. The report does not specify how broad a restart BitMart is considering or what payout structure may be used for creditors, but it indicates that both options are under review. The update comes after the exchange’s earlier shutdown announcement and sets a near-term deadline for greater clarity on its restructuring process.

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BitMart

2026-08-21 15:57:34

BitMart says it may restart part of its business after planning a permanent shutdown

Techub News said BitMart, the cryptocurrency exchange that had announced a permanent shutdown weeks earlier, said on Aug. 21 that it may restart part of its business. The exchange is now working on a restructuring plan rather than a full wind-down, and it has hired White & Case as restructuring adviser. Any phased restart would take place alongside asset distributions to creditors. BitMart had previously said on July 26 that it would stop all trading on Aug. 26 and fully close on Jan. 31, 2027. Its BMX token fell as much as 46% after the shutdown plan was disclosed. BitMart said the decision was based on operating conditions and strategic considerations, while users reported withdrawal issues and founder Sheldon Xia denied the allegations. BeInCrypto said analysts had viewed exchange closures as a healthy market cleanup, but BitMart’s latest move challenged that view.

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BitMart

2026-08-21 13:16:37

BitMart weighs restructuring plan as alternative to full liquidation, update due by Sept. 9, 2026

BitMart said it is working on a potential restructuring plan that could serve as an alternative to a full shutdown and liquidation, according to a post from the exchange. The company said the effort follows its July 26 notice and involves ongoing discussions with users, stakeholders, and professional advisers. The proposed framework may include a phased and orderly resumption of part of its business operations, while also distributing assets to creditors. BitMart said any such arrangement remains subject to legal, financial, operational, and compliance reviews. To move the process forward, the exchange has appointed White & Case as restructuring legal counsel. The firm will help assess available options and draft the framework for a possible restructuring plan. BitMart added that its team is developing a roadmap with advisers and is aiming to provide a further update no later than Sept. 9, 2026. Once a formal business recovery plan is ready, the company said it will seek feedback from community users.

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BitMart

2026-08-21 13:23:39

BitMart says it is preparing a restructuring plan and may restore some operations in stages

BitMart said through its official X account on Aug. 21 that it is working on a potential restructuring plan as an alternative to a full shutdown. The exchange said the plan could involve a staged restoration of certain operations under an orderly process, along with distributions to creditors. It added that any such arrangement remains subject to further legal, financial, operational, and regulatory review. BitMart also said it has appointed White & Case as restructuring legal counsel to help assess possible options and build a framework for both the restructuring process and the phased resumption of operations. The company said it is now working with its advisers on a roadmap and is aiming to provide another update by Sept. 9, 2026.

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Luno

2026-07-28 12:12:36

Bloomberg: Luno to cut about 20% of staff worldwide in restructuring

Luno, the cryptocurrency exchange owned by Digital Currency Group (DCG), is planning to cut about 20% of its workforce worldwide as part of a broader restructuring, according to Bloomberg. The move was confirmed by Luno Chief Executive Officer James Lanigan. In comments made in response to media questions, Lanigan said the restructuring will reshape the company’s business mix, with a focus on expanding its business-to-business, or B2B, operations, while also reducing costs to reflect current market conditions. He did not disclose how many employees will be affected by the layoffs. The reported cuts point to a global adjustment in staffing rather than a change limited to one region, though no further geographic breakdown was provided in the report.

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Nakamoto

2026-07-24 10:15:15

Nakamoto Sells 284 BTC, Slashes Metaplanet Stake Amid Restructuring Push

Nakamoto sold 284 BTC for ~$20M in March at 20% below year-end valuation, and cut its Metaplanet stake by 5M shares at a loss. The firm reported a $166M fair-value loss on digital assets and a $52.2M net loss in 2025, with shares down 80% and facing Nasdaq delisting.

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Ethereum Foun

2026-07-23 21:25:15

Ethereum Foundation Cuts 54 Jobs as Restructuring Shifts Focus to Five Core Areas

The Ethereum Foundation cut 54 employees, about 20% of staff, while reorganizing into five operating areas. Leadership departures, funding strain in core development, and the rise of independent research groups are reshaping Ethereum’s support structure.

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