Crypto exchange BitMart weighs partial restart and creditor payouts weeks after announcing shutdown

Crypto exchange BitMart is considering a restructuring that could combine distributions to creditors with a phased restart of some operations, less than four weeks after saying it would shut down.

“The potential plan may include the phased resumption of certain operations in an orderly manner alongside distributions to creditors,” BitMart said in an announcement.

The exchange appointed White & Case as restructuring counsel and expects to provide a roadmap by Sept. 9.

The reference to creditors marks a change in BitMart’s public language. Its July 26 closure notice cited only operating conditions, the market environment and future strategy, without giving a specific reason for the shutdown.

BitMart halted new registrations, deposits and trading orders and moved futures accounts into reduce-only mode after nine years in the space.

It set Aug. 26 as the deadline for all trading to end and planned to terminate platform operations on Jan. 31, 2027, while keeping withdrawals available under additional compliance checks.

The shutdown announcement sent BitMart’s BMX token down about 58% over 24 hours, extending its year-to-date decline to 83%.