BitMart suggests restructuring weeks after closure announcement

Crypto exchange BitMart might not be shutting down after all, following this weekend’s announcement of plans to explore a potential “restructuring plan.”

BitMart says the plan may involve the phased “resumption of certain operations in an orderly manner alongside distributions to creditors.”

Restructuring counsel White & Case has been hired to help BitMart assess its options, while a roadmap detailing its future will be released “no later than September 9, 2026.”

Read more: BitMart CPO resigns as insolvency speculation mounts

Just over a month ago, on July 26, BitMart announced that it would cease all of its operations by January 31, 2027. 

What followed was weeks of panic from users trying and failing to withdraw all of their assets from the exchange. 

BitMart’s Chief Product Officer Terence Lee resigned in a post that distanced himself from the crypto exchange’s core operations. 

Its CEO Nathan Chow was terminated prior to the closure announcement and wasn’t made aware the announcement in the first place. 

All of this led has led to speculation that the firm may be insolvent. 

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