BitMart to Halt Trading on Aug. 26 After CEO Terminated, BMX Token Falls 60%

Crypto exchange BitMart announced on July 24 that it is winding down its trading platform, with all spot, futures and other trading services to cease at 01:00 UTC on Aug. 26, according to a notice published Saturday evening. The platform will complete full operational cessation by 15:59 UTC on Jan. 31, 2027, while users retain login access to withdraw funds and view records through that date.

Global CEO Nathan Chow said on X that he learned of the shutdown announcement when it became public, after his employment was terminated on July 24. Chow stated he had no role in the decision and was not consulted on the wind-down, raising no further comment. BitMart cited an evaluation of operating conditions and market environment in its notice. Meanwhile, BMX, the exchange's native token, traded near $0.066 on Sunday morning, down approximately 60% in 24 hours, according to CoinGecko data.