Another Major Crypto Exchange Is Shutting Down After BitMEX
Unlike the previous major bear market in which numerous cryptocurrency exchanges reduced their staff number, the current cycle turned out to be more violent and requires a different sort of reaction.
The latest to close shop, with an announcement earlier today, was BitMart.
BitMart to Shut Down
The exchange saw the light of day during the 2017 big bull market and expanded its services to over 1,700 cryptocurrencies as of today. However, it followed the recent negative trend, stating that it has begun to “orderly” wind down its trading operations.
New registrations have already been halted, as well as deposits and opening new trading orders. A month later, the exchange will stop all trading services. The official shutdown will be at the end of January at 15:59 UTC, when the platform operations will cease. In contrast, withdrawals will remain available.
The company urged all users to close their trading positions, complete KYC if needed, and transfer out the available funds as soon as possible.
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