Another exchange has gone under... Just now, BitMart announced it will 'orderly cease operations.' Actually, there were a series of warning signs in the past couple of days, including: on July 25, they announced the termination of spot margin trading services and the suspension of AMM market-making bot services, among other things. But there are a few details about this case that are worth noting: First, the pace was super rushed—within 48 hours, they issued consecutive service suspension notices and then directly announced the shutdown. Second, on July 17, they had just released their H1 report, boasting about a 256% growth in AUM (assets under management) and a doubling of fixed-term financial product scale. A week later, they shut down—completely contradictory. Additionally, on June 29, BitMart had issued a 'Statement on Recent Risk Control and Asset Transparency,' which suggests that rumors of withdrawals or doubts were already circulating in the market back then. This feels more like a forced liquidation rather than a voluntary exit, which is quite different from BitMEX. If any of you have assets on the platform, it’s best to withdraw them ASAP. Two exchanges shutting down in three days—next, the market might start speculating 'who’s next.' It’s likely that second-tier exchanges will face withdrawal pressure tests soon. #crypto #BitMart #exchangeclosure