TLDR
- BitMart is exploring a restructuring plan as an alternative to a full shutdown, appointing White & Case as restructuring counsel
- A further update is promised by September 9, but this is not a deadline for completing any restructuring
- Trading across all markets is still set to end August 26 at 01:00 UTC unless BitMart formally changes its schedule
- No balance sheet, liability totals, reserve data, or creditor claim portal has been made public
- BitMart’s native token BMX is trading near $0.06, down roughly 80% over the past month
BitMart has shifted course, announcing it is exploring a restructuring plan just weeks after it said it would fully wind down. But users are still waiting for answers about their money.
⚡️UPDATE: BitMart is considering creditor payouts and a phased restart, less than four weeks after announcing its shutdown.
No formal bankruptcy or restructuring filing has been disclosed. https://t.co/kOYdVVFypL pic.twitter.com/xI0RgzYxYi
— Coin Bureau (@coinbureau) August 23, 2026
The crypto exchange made the announcement on August 21, saying it was developing a plan that could allow some services to restart in stages while also making distributions to creditors. The exchange had previously announced a full wind-down on July 26.
White & Case, a major law firm, has been hired as restructuring counsel. The firm will work with BitMart’s other advisers to look at what options are available. However, this does not mean BitMart has filed for bankruptcy or entered any court-supervised process.
BitMart says it will provide another update by September 9. That date is a communication deadline, not a confirmed restructuring milestone.
Trading Still Ends August 26
Despite the restructuring news, BitMart’s original trading cutoff remains in place. All spot and futures trading is scheduled to stop at 01:00 UTC on August 26.
Futures accounts are already in reduce-only mode. Spot markets have stopped accepting new orders. New registrations and deposits closed on July 26. BitMart has asked users to submit withdrawal requests before 05:00 UTC on August 26.
Any futures positions still open at the deadline may be settled using the platform’s mark price or settlement rules. BitMart said it would publish those settlement details separately, but has not done so yet.
Withdrawals remain available in the meantime, though the exchange warns that identity checks, sanctions screening, and wallet reviews may slow processing times.
Creditor Questions Remain Unanswered
The use of the word “creditors” in BitMart’s latest statement has raised questions. The exchange has not explained whether ordinary customers count as creditors, or whether they would be treated differently from commercial counterparties.
BitMart has not released any balance sheet, reserve report, or liability figure. There is no public creditor claim portal and no court case number has been published.
Earlier concerns about BitMart’s financial position were based on third-party wallet tracking and user reports. Those findings do not give a complete picture of the exchange’s assets or liabilities.
The September 9 update is expected to address which operations could restart, which legal entities are involved, and how creditor claims will be valued. Users also need clarity on payout timing and what happens to pending withdrawals.
The platform’s final closure remains scheduled for January 31, 2027, unless BitMart changes its plans. BMX was trading near $0.061 on August 23, according to CoinGecko, still about 80% below where it stood one month ago.
