BitMEX and BitMart may be first casualties of crypto trading slump
Several cryptocurrency firms, including BitMEX and BitMart, are facing closures or bankruptcy due to a significant decline in retail trading volume. Analysts suggest that the industry is shifting away from retail speculation toward institutional compliance and artificial intelligence investments.
At least three other crypto firms have announced closures or bankruptcies in the past week, including Bitmart, which let its users know they have 30 days to close trades and six months to withdraw all their funds from the platform. Users have raised concerns about withdrawal delays following the announcement. BitMart did not specify why it was closing.
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