BitMart is the latest crypto platform to call it quits. The exchange announced it will wind down its trading operations, halting new registrations and deposits immediately. Trading will stop one month after the announcement, and the full shutdown is scheduled for the end of January 2026 at 15:59 UTC.
BitMart's native token BMX took a hit. It dropped from $0.32 to $0.09 in 24 hours — a 60% decline. That puts it more than 90% below its all-time high of $0.62, which was recorded in early 2024.
BitMEX sets a date
Derivatives exchange BitMEX, co-founded by Arthur Hayes, also announced it will shut down. The platform plans to close on September 23. BitMEX was once a dominant player in crypto derivatives, but regulatory pressure and declining volumes have taken their toll.
Odos and Dango follow
DEX aggregator Odos said it will halt all services at the end of July. The team gave no detailed reason, just a short notice on July 24.
Dango, a self-described 'Endgame Exchange', is also winding down. Trading stops on July 29, and its Layer 1 blockchain will halt on August 13. The project launched with ambitious claims but never gained traction.
What's behind the wave
Four platforms in one week is unusual. Some are small — Odos and Dango never had large user bases. But BitMart and BitMEX were established names. The timing isn't great for an industry already dealing with regulatory scrutiny and a slow market.
No single cause ties all four together. BitMart and BitMEX face different regulatory environments. Odos and Dango may have simply run out of users or funding. But the cluster of shutdowns will likely fuel more talk about consolidation in crypto.
For now, users of these platforms have deadlines to move their funds. BitMart customers have until the end of January. BitMEX users have until September 23. Odos users have a few days. Dango users have until July 29 for trading and August 13 for the chain.
