BitMart considers restructuring plan instead of total liquidation

Cryptocurrency exchange BitMart has announced it is considering a potential restructuring plan as an alternative to its previously stated plan for total liquidation. This follows a July 26 announcement where the exchange intended to phase out operations, including stopping new deposits and ending all trading services by late August, with a final platform shutdown scheduled for early 2027.

The new proposal involves a phased resumption of certain business operations alongside an asset distribution process for creditors. To facilitate this complex process, BitMart has appointed international law firms, including White & Case and Weil, Gotshal & Manges, to serve as legal advisors for the restructuring.

The exchange is currently conducting legal, financial, operational, and regulatory assessments to finalize the plan. BitMart has committed to releasing a detailed roadmap regarding the business recovery and creditor distribution by September 9.