News Heat Trend
Project Overview
BitMart is a digital asset trading platform that aims to provide a diversified range of system functions, such as spot trading, futures contract trading, over-the-counter trading, whole-network trading, and decentralized trading, to meet the varied needs of a broad range of investors.
BitMart Launches TradFi Aggregation Page, Unifying Multi-Asset Trading Entry
According to official news, BitMart has recently launched a TradFi aggregation page, consolidating various traditional financial assets such as stocks, indices, precious metals, forex, and commodities onto a single page. Users can now view market data, filter targets, and execute trades all within one interface, eliminating the need to switch between different sections.The page has undergone structural adjustments centered around multi-asset trading scenarios, unifying previously dispersed asset entry points and simplifying the trading path. By optimizing the page layout and operational logic, asset switching and order placement processes have become smoother, thereby enhancing overall trading efficiency to a certain extent.
BitMart to List USD.AI (CHIP)
According to an official announcement, BitMart will list USD.AI (CHIP) at 21:00 (UTC+8) on April 21. The trading pair CHIP/USDT will be available.USD.AI is a permissionless lending protocol providing financing for the AI infrastructure industry. The protocol allows GPU operators to tokenize and collateralize their hardware equipment for quick access to capital. It employs a dual-token model: USDai (a stablecoin over-collateralized by PayPal's PYUSD) and sUSDai (an interest-bearing token with a target annual yield of 10-15%, with returns sourced from GPU-backed loans). CHIP is the governance token, allowing holders to vote on protocol parameters, administrator approvals, and USD.AI Improvement Proposals (UIPs).
Echo Base Forms BitMart Creditors' Committee to Recover Frozen Assets
Odaily News - Echo Base, an institution focused on stable digital asset companies, assisted in forming the BitMart Creditors' Committee on September 2 to represent users holding frozen assets, and has retained legal counsel to evaluate recovery options, including filing for unfunded bankruptcy proceedings.On August 6, Echo Base proposed a funding package of up to $10 million to support BitMart in filing a pre-negotiated bankruptcy application, but received no response from BitMart. Echo Base stated that its actions stem from BitMart's failure to respond to the restructuring proposal and users' withdrawal requests.Sonn Law Group has launched an investigation into users with frozen assets of $500,000 or more on BitMart, assessing potential claims and asset recovery options. Echo Base CEO Roshan Dharia stated that BitMart's employee plan can only sustain operations until January 2027, and the longer the delay, the fewer viable options remain. (Bitcoin.com News)
BitMart is formulating a potential restructuring plan and plans to resume partial operations in phases.
BitMart announced in a public statement that it is developing a potential restructuring plan as an alternative to a complete shutdown. The plan may include the phased resumption of certain operations under an orderly arrangement and distributions to creditors, but will still require further legal, financial, operational, and regulatory assessments.
BitMart Publishes Announcement on Potential Restructuring and Business Recovery Plan
Odaily News BitMart has published an announcement regarding a potential restructuring and business recovery plan, stating that after further consultations with users, stakeholders, and professional advisors, BitMart is drafting a potential restructuring proposal as an alternative to a full liquidation. The proposal may include an orderly, phased resumption of certain business operations alongside asset distributions to creditors, with such arrangements still subject to further legal, financial, operational, and compliance assessments. To advance this process, BitMart has appointed White & Case LLP as restructuring legal counsel. White & Case will work with BitMart's other professional advisors to evaluate viable options and assist in developing a potential restructuring plan, including a framework for the phased resumption of operations. A roadmap is currently being developed with the advisory team, with the goal of releasing further updates no later than September 9, 2026.
BitMart Founder Refutes Withdrawal Blockage and Unpaid Salary Rumors, Exchange to End Trading on August 26
Odaily News: Sheldon Lee, founder of cryptocurrency exchange BitMart, stated that a post on X claiming users were unable to withdraw funds and that some employees had not received their July salaries is a "fabricated rumor," adding that the exchange's Chinese-language account had been hacked. Critics, including users and on-chain investigator ZachXBT, have demanded that BitMart resume withdrawals or undergo an independent third-party audit. BitMart is gradually winding down operations, with the final trading day set for August 26. Troubled investment firm Echo Base said it had proposed a funded restructuring plan to BitMart but received no response. The firm warned that resolving a large volume of customer claims may require proceedings through the courts. (CoinDesk)
BitMart Founder Rejects Audit Calls; Users Claim Funds Frozen
BitMart founder Sheldon Lee called the relevant allegations "fabricated rumors," but users and on-chain investigators are demanding the exchange resume withdrawals or undergo an independent audit.
BitMart employees issued a public accountability statement, demanding management respond regarding the whereabouts of assets by August 19.
Multiple BitMart users and employees jointly signed and issued a public accountability statement, demanding that BitMart founder Sheldon and his partner Lee Yi publicly respond to the following issues by August 19: the whereabouts of user assets and verifiable proof of reserves, the decision-making process regarding withdrawal limits, investigations into affiliated accounts and fund flows, payment arrangements for overdue employee salaries and compensation, and a specific, executable user repayment plan. The statement noted that a large number of users are still unable to withdraw assets normally, and some employees have not even received their salaries for the last month or the compensation they are owed. The signatories stated that if a complete and transparent response is not received by August 19, they will submit relevant materials and leads on fund flows to law enforcement agencies, regulatory bodies, and media across various regions, demanding further investigation.
Multiple users report withdrawal delays on WOO X; platform has not yet responded.
According to on-chain detective ZachXBT, several verified WOO X users recently reported that their withdrawals have remained in a "pending" or "processing" state for the past three days. WOO X, which was incubated by Kronos Research and acquired by FusionX Digital in Q4 2025, is reportedly linked to BitMart founder Sheldon Xia. Previously, BitMart announced on July 26, 2026, its cessation of operations and restructuring; some users' funds remain inaccessible to date, and related complaints have increased on the X platform. While Sheldon Xia has stated that user assets are secure, this claim has yet to be independently verified. As of now, WooX has not issued any public statement regarding the withdrawal delays.
Echo Base Forms BitMart Creditors' Committee to Recover Frozen Assets
Odaily News - Echo Base, an institution focused on stable digital asset companies, assisted in forming the BitMart Creditors' Committee on September 2 to represent users holding frozen assets, and has retained legal counsel to evaluate recovery options, including filing for unfunded bankruptcy proceedings.On August 6, Echo Base proposed a funding package of up to $10 million to support BitMart in filing a pre-negotiated bankruptcy application, but received no response from BitMart. Echo Base stated that its actions stem from BitMart's failure to respond to the restructuring proposal and users' withdrawal requests.Sonn Law Group has launched an investigation into users with frozen assets of $500,000 or more on BitMart, assessing potential claims and asset recovery options. Echo Base CEO Roshan Dharia stated that BitMart's employee plan can only sustain operations until January 2027, and the longer the delay, the fewer viable options remain. (Bitcoin.com News)
BitMart Founder Refutes Withdrawal Blockage and Unpaid Salary Rumors, Exchange to End Trading on August 26
Odaily News: Sheldon Lee, founder of cryptocurrency exchange BitMart, stated that a post on X claiming users were unable to withdraw funds and that some employees had not received their July salaries is a "fabricated rumor," adding that the exchange's Chinese-language account had been hacked. Critics, including users and on-chain investigator ZachXBT, have demanded that BitMart resume withdrawals or undergo an independent third-party audit. BitMart is gradually winding down operations, with the final trading day set for August 26. Troubled investment firm Echo Base said it had proposed a funded restructuring plan to BitMart but received no response. The firm warned that resolving a large volume of customer claims may require proceedings through the courts. (CoinDesk)
BitMart employees publicly voice five demands, requiring the publication of assets and repayment plan before August 19
Odaily News Employees of the BitMart platform posted on X, publicly addressing BitMart's management and relevant parties in charge, raising five demands concerning platform user assets and employee salaries. These include requiring BitMart to disclose its wallets, assets, liabilities, and available reserves, explain the reasons why users cannot withdraw funds normally, investigate the flow of funds related to user assets, and pay employees' overdue wages and compensation.Additionally, the user demands that BitMart publish an executable user repayment plan before August 19, specifying remaining assets, total liabilities, the user repayment ratio, repayment priority, and timeline, and submit to independent third-party audits.
ARK Invest Analyst: Crypto Industry Enters Largest Consolidation Phase in History
According to Cointelegraph, ARK Invest researcher Lorenzo Valente noted in a post on July 30 that the cryptocurrency industry is entering the largest consolidation phase in history. As investors become increasingly strict in screening projects, revenue is accelerating towards concentration among a few top protocols—Hyperliquid and Pump.fun collectively account for approximately 67% of the industry's application revenue, and with Ethena included, the combined share of the top three approaches 80%. Valente expects this trend to accelerate in the coming months, triggering more M&A, bankruptcies, and project closures. Meanwhile, BitMEX and BitMart recently announced the shutdown of trading services in succession, further confirming the consolidation trend. Valente believes that this round of consolidation is "extremely beneficial" for the long-term development of the crypto industry.
BitMart to End 9 Years of Exchange Operations, BMX Plunges 81% in a Week
crypto exchange BitMart announced it will gradually wind down its trading platform business after nine years of operation. The platform halted new user registrations, deposits, and order placements at 01:30 UTC on July 26. All spot and derivatives trading will cease on August 26, and the platform is scheduled to officially shut down on January 31, 2027. BitMart stated that withdrawals will remain open, but checks related to identity, devices, sanctions, and funding sources may slow processing speeds. The company attributed the closure to its operational status, market conditions, and future strategic direction. Its native token, BMX, has fallen 81% over the past week to $0.057, bringing its market cap down to $19.6 million. BitMart previously suffered a loss of $196 million in December 2021 due to a hot wallet vulnerability, and covered the customer losses. Perpetual contract platform BitMEX also recently announced it will shut down after 11 years of operation, making BitMart the second major crypto exchange to announce a closure within a week.
BitMart Founder Refutes Withdrawal Blockage and Unpaid Salary Rumors, Exchange to End Trading on August 26
Odaily News: Sheldon Lee, founder of cryptocurrency exchange BitMart, stated that a post on X claiming users were unable to withdraw funds and that some employees had not received their July salaries is a "fabricated rumor," adding that the exchange's Chinese-language account had been hacked. Critics, including users and on-chain investigator ZachXBT, have demanded that BitMart resume withdrawals or undergo an independent third-party audit. BitMart is gradually winding down operations, with the final trading day set for August 26. Troubled investment firm Echo Base said it had proposed a funded restructuring plan to BitMart but received no response. The firm warned that resolving a large volume of customer claims may require proceedings through the courts. (CoinDesk)
BitMart Founder: Chinese Official Account Has Been Hacked, Related Content Was Not Published by Current Employees
BitMart founder Sheldon stated that, after verification, the official BitMart Chinese account has been hacked, and the relevant content was not published by current employees.
BitMart Founder Responds to Withdrawal Difficulties and Unpaid Employee Salaries: Did Not Flee, Currently Conducting Asset Inventory
BitMart Exchange Founder Sheldon posted a statement addressing recent user withdrawal difficulties and unpaid employee salary issues, stating that the core team is still conducting asset inventory, asset consolidation, and system maintenance, and denied any misappropriation of assets, front-running, or exit actions.
BitMart to End 9 Years of Exchange Operations, BMX Plunges 81% in a Week
crypto exchange BitMart announced it will gradually wind down its trading platform business after nine years of operation. The platform halted new user registrations, deposits, and order placements at 01:30 UTC on July 26. All spot and derivatives trading will cease on August 26, and the platform is scheduled to officially shut down on January 31, 2027. BitMart stated that withdrawals will remain open, but checks related to identity, devices, sanctions, and funding sources may slow processing speeds. The company attributed the closure to its operational status, market conditions, and future strategic direction. Its native token, BMX, has fallen 81% over the past week to $0.057, bringing its market cap down to $19.6 million. BitMart previously suffered a loss of $196 million in December 2021 due to a hot wallet vulnerability, and covered the customer losses. Perpetual contract platform BitMEX also recently announced it will shut down after 11 years of operation, making BitMart the second major crypto exchange to announce a closure within a week.
BitMart: Appoints Alvarez & Marsal as Financial Advisor to Evaluate Orderly Withdrawals and Potential Business Restart Plans
: BitMart announced on the X platform that it has decided to appoint Alvarez & Marsal (A&M) as its financial advisor to assist the company and its legal counsel in assessing BitMart's financial condition, stakeholder matters, and orderly withdrawal arrangements, as well as to study potential orderly business restart plans and other proposals put forward by third parties.BitMart stated that it will publish a dedicated user feedback website within 5 business days, and plans to gradually disclose specifics regarding user feedback channels, opinion collection mechanisms, and action plans within 3 weeks. In addition, BitMart will appoint an independent third party in the short term to supervise the company's operations and asset custody during this period.Previously, BitMart had issued an "Announcement on Potential Restructuring and Business Recovery Plans," indicating its intention to gradually resume part of its business operations in phases, with the next update to be released no later than September 9.
Multiple users report withdrawal delays on WOO X; platform has not yet responded.
According to on-chain detective ZachXBT, several verified WOO X users recently reported that their withdrawals have remained in a "pending" or "processing" state for the past three days. WOO X, which was incubated by Kronos Research and acquired by FusionX Digital in Q4 2025, is reportedly linked to BitMart founder Sheldon Xia. Previously, BitMart announced on July 26, 2026, its cessation of operations and restructuring; some users' funds remain inaccessible to date, and related complaints have increased on the X platform. While Sheldon Xia has stated that user assets are secure, this claim has yet to be independently verified. As of now, WooX has not issued any public statement regarding the withdrawal delays.
Echo Base Forms BitMart Creditors' Committee to Recover Frozen Assets
Odaily News - Echo Base, an institution focused on stable digital asset companies, assisted in forming the BitMart Creditors' Committee on September 2 to represent users holding frozen assets, and has retained legal counsel to evaluate recovery options, including filing for unfunded bankruptcy proceedings.On August 6, Echo Base proposed a funding package of up to $10 million to support BitMart in filing a pre-negotiated bankruptcy application, but received no response from BitMart. Echo Base stated that its actions stem from BitMart's failure to respond to the restructuring proposal and users' withdrawal requests.Sonn Law Group has launched an investigation into users with frozen assets of $500,000 or more on BitMart, assessing potential claims and asset recovery options. Echo Base CEO Roshan Dharia stated that BitMart's employee plan can only sustain operations until January 2027, and the longer the delay, the fewer viable options remain. (Bitcoin.com News)
BitMart is formulating a potential restructuring plan and plans to resume partial operations in phases.
BitMart announced in a public statement that it is developing a potential restructuring plan as an alternative to a complete shutdown. The plan may include the phased resumption of certain operations under an orderly arrangement and distributions to creditors, but will still require further legal, financial, operational, and regulatory assessments.
BitMart Publishes Announcement on Potential Restructuring and Business Recovery Plan
Odaily News BitMart has published an announcement regarding a potential restructuring and business recovery plan, stating that after further consultations with users, stakeholders, and professional advisors, BitMart is drafting a potential restructuring proposal as an alternative to a full liquidation. The proposal may include an orderly, phased resumption of certain business operations alongside asset distributions to creditors, with such arrangements still subject to further legal, financial, operational, and compliance assessments. To advance this process, BitMart has appointed White & Case LLP as restructuring legal counsel. White & Case will work with BitMart's other professional advisors to evaluate viable options and assist in developing a potential restructuring plan, including a framework for the phased resumption of operations. A roadmap is currently being developed with the advisory team, with the goal of releasing further updates no later than September 9, 2026.
BitMart Founder Refutes Withdrawal Blockage and Unpaid Salary Rumors, Exchange to End Trading on August 26
Odaily News: Sheldon Lee, founder of cryptocurrency exchange BitMart, stated that a post on X claiming users were unable to withdraw funds and that some employees had not received their July salaries is a "fabricated rumor," adding that the exchange's Chinese-language account had been hacked. Critics, including users and on-chain investigator ZachXBT, have demanded that BitMart resume withdrawals or undergo an independent third-party audit. BitMart is gradually winding down operations, with the final trading day set for August 26. Troubled investment firm Echo Base said it had proposed a funded restructuring plan to BitMart but received no response. The firm warned that resolving a large volume of customer claims may require proceedings through the courts. (CoinDesk)
Related news
BitMart: Appoints Alvarez & Marsal as Financial Advisor to Evaluate Orderly Withdrawals and Potential Business Restart Plans
: BitMart announced on the X platform that it has decided to appoint Alvarez & Marsal (A&M) as its financial advisor to assist the company and its legal counsel in assessing BitMart's financial condition, stakeholder matters, and orderly withdrawal arrangements, as well as to study potential orderly business restart plans and other proposals put forward by third parties.BitMart stated that it will publish a dedicated user feedback website within 5 business days, and plans to gradually disclose specifics regarding user feedback channels, opinion collection mechanisms, and action plans within 3 weeks. In addition, BitMart will appoint an independent third party in the short term to supervise the company's operations and asset custody during this period.Previously, BitMart had issued an "Announcement on Potential Restructuring and Business Recovery Plans," indicating its intention to gradually resume part of its business operations in phases, with the next update to be released no later than September 9.
Multiple users report withdrawal delays on WOO X; platform has not yet responded.
According to on-chain detective ZachXBT, several verified WOO X users recently reported that their withdrawals have remained in a "pending" or "processing" state for the past three days. WOO X, which was incubated by Kronos Research and acquired by FusionX Digital in Q4 2025, is reportedly linked to BitMart founder Sheldon Xia. Previously, BitMart announced on July 26, 2026, its cessation of operations and restructuring; some users' funds remain inaccessible to date, and related complaints have increased on the X platform. While Sheldon Xia has stated that user assets are secure, this claim has yet to be independently verified. As of now, WooX has not issued any public statement regarding the withdrawal delays.
Echo Base Forms BitMart Creditors' Committee to Recover Frozen Assets
Odaily News - Echo Base, an institution focused on stable digital asset companies, assisted in forming the BitMart Creditors' Committee on September 2 to represent users holding frozen assets, and has retained legal counsel to evaluate recovery options, including filing for unfunded bankruptcy proceedings.On August 6, Echo Base proposed a funding package of up to $10 million to support BitMart in filing a pre-negotiated bankruptcy application, but received no response from BitMart. Echo Base stated that its actions stem from BitMart's failure to respond to the restructuring proposal and users' withdrawal requests.Sonn Law Group has launched an investigation into users with frozen assets of $500,000 or more on BitMart, assessing potential claims and asset recovery options. Echo Base CEO Roshan Dharia stated that BitMart's employee plan can only sustain operations until January 2027, and the longer the delay, the fewer viable options remain. (Bitcoin.com News)
BitMart is formulating a potential restructuring plan and plans to resume partial operations in phases.
BitMart announced in a public statement that it is developing a potential restructuring plan as an alternative to a complete shutdown. The plan may include the phased resumption of certain operations under an orderly arrangement and distributions to creditors, but will still require further legal, financial, operational, and regulatory assessments.
BitMart Publishes Announcement on Potential Restructuring and Business Recovery Plan
Odaily News BitMart has published an announcement regarding a potential restructuring and business recovery plan, stating that after further consultations with users, stakeholders, and professional advisors, BitMart is drafting a potential restructuring proposal as an alternative to a full liquidation. The proposal may include an orderly, phased resumption of certain business operations alongside asset distributions to creditors, with such arrangements still subject to further legal, financial, operational, and compliance assessments. To advance this process, BitMart has appointed White & Case LLP as restructuring legal counsel. White & Case will work with BitMart's other professional advisors to evaluate viable options and assist in developing a potential restructuring plan, including a framework for the phased resumption of operations. A roadmap is currently being developed with the advisory team, with the goal of releasing further updates no later than September 9, 2026.
BitMart Founder Refutes Withdrawal Blockage and Unpaid Salary Rumors, Exchange to End Trading on August 26
Odaily News: Sheldon Lee, founder of cryptocurrency exchange BitMart, stated that a post on X claiming users were unable to withdraw funds and that some employees had not received their July salaries is a "fabricated rumor," adding that the exchange's Chinese-language account had been hacked. Critics, including users and on-chain investigator ZachXBT, have demanded that BitMart resume withdrawals or undergo an independent third-party audit. BitMart is gradually winding down operations, with the final trading day set for August 26. Troubled investment firm Echo Base said it had proposed a funded restructuring plan to BitMart but received no response. The firm warned that resolving a large volume of customer claims may require proceedings through the courts. (CoinDesk)