BitMart to wind down exchange, end trading by Aug. 26

BitMart will wind down its cryptocurrency exchange, ending all trading services on Aug. 26 before ceasing operations entirely on Jan. 31, 2027.“After a careful evaluation of the Company’s operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations,” it said in a Sunday notice.Under the shutdown plan, BitMart has stopped accepting new user registrations and deposits, while futures trading has entered reduce-only mode and spot markets no longer accept new orders. BitMart joins a growing list of crypto trading platforms that have announced plans to close shop in recent months. Among them are BitMEX and Dango, which both said this week they would shut down their respective trading platforms.Related: As BitMEX exits, analysts warn crypto consolidation is acceleratingBMX sinks amid withdrawal complaintsBitMart’s native token, BMX, lost nearly 70% of its value while users reported delayed withdrawals from the exchange.BMX traded at about $0.09464 at the time of writing, down nearly 70% from about $0.31 late Friday. The token fell as low as $0.1058 early Saturday before...