BitMart announced this weekend that it is exploring a possible restructuring plan, which could reverse its decision to permanently shut down operations on January 31, 2027. The news came just one month after the exchange announced, on July 26, 2026, the complete cessation of its activities.
According to the statement, the plan contemplates the gradual resumption of certain operations in an orderly manner, accompanied by distributions to creditors. To guide the process, BitMart hired restructuring legal advisor firm White & Case and committed to publishing a roadmap with next steps no later than September 9, 2026.
Update Regarding BitMart’s Potential Restructuring and Business Resumption Plan
Dear BitMart Users,
We are writing to update you on developments further to our announcement dated 26 July 2026. We appreciate the community’s patience during this period.
Following further…
— BitMart (@BitMartExchange) August 21, 2026
The closure announcement triggered weeks of panic among users, many of whom attempted to withdraw their funds without success. Adding to this were deeply troubling internal signals: Chief Product Officer Terence Lee publicly resigned, distancing himself from the exchange’s core operations.
Furthermore, CEO Nathan Chow had been removed even before the closure was announced, and according to reports, without having been notified of the announcement. Both developments fueled speculation that the company could be facing a situation of insolvency.
Source: https://x.com/BitMartExchange/status/2090781678528803238
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