BitMart, the nine-year-old crypto exchange, is shutting down—triggering a nosedive in its own token BMX and sparking fears of a broader crypto industry shakeout, especially after BitMEX’s recent closure. Trading ends August 26, with full shutdown on January 31, 2027, citing “operating conditions and the market.” While users can still withdraw funds, delays are expected due to security checks. Experts warn this signals a wave of consolidation, where only agile, well-supported firms will survive in an increasingly volatile digital asset landscape.
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