Morning Edition · Tuesday, July 28, 2026Published at 1:41 AM EDT · New York
BitMart Abruptly Winds Down After Nine Years, Locking User Withdrawals
The exchange stopped operations with ETH drained from its wallets, the latest mid-tier venue to exit and concentrate counterparty risk onto larger platforms.
Exchange BitMart said it will wind down its trading platform after nine years, abruptly reversing an expansion it had continued into the summer. Users reported stalled withdrawals as ETH left the exchange's wallets, and on-chain observers d…
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Mid-Tier Exchange Exits Concentrate Counterparty Risk
Falling trading volumes and rising compliance costs push mid-tier centralized exchanges to exit, concentrating users and liquidity onto a shrinking group of dominant platforms.
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