BitMart weighs phased restart and creditor payouts

BitMart said on Aug. 21 that it was exploring a restructuring plan involving creditor distributions and the phased restart of selected operations, less than four weeks after announcing a complete wind-down. Summary BitMart appointed White & Case while evaluating creditor distributions and a phased operational restart plan. September 9 is BitMart’s deadline for another update, not a guaranteed restructuring completion date yet. Existing notices still schedule all trading to end August 26 at 01:00 UTC unless revised. BitMart has not published creditor eligibility, payout percentages, reserve data or a court filing publicly. BMX trades near $0.06 after losing roughly 80% over one month, according to trackers currently. The exchange appointed White & Case as restructuring counsel. It promised another update by Sept. 9 but did not cancel its existing Aug. 26 trading cutoff or Jan. 31, 2027, closure date. The announcement marks BitMart’s first public reference to creditors. It does not explain which customers or counterparties fall within that category. BitMart restart remains under assessment BitMart said the proposed plan could combine an orderly resumption of certain services ...