An exchange that closes... and now wants to reopen?
BitMart, the platform that weeks ago announced its definitive closure, is evaluating a partial restart of operations and payment to its creditors. To do this, it hired White & Case, one of the biggest law firms in financial restructurings. It’s expected that by September 9 they will submit a detailed plan outlining the way forward. This isn’t improvisation: there’s money at stake and people waiting to get paid.
In my opinion, if they manage to execute this plan well, it could be a positive sign for the industry because it would show that even exchanges in trouble can get back on track and respond to their users. But the market doesn’t forgive so easily anymore, and once trust is broken, it costs twice as much to rebuild.
Would you give a second chance to an exchange that announced its closure, or is it already burned for you?
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BitMart, the platform that weeks ago announced its definitive closure, is evaluating a partial restart of operations and payment to its creditors. To do this, it hired White & Case, one of the biggest law firms in financial restructurings. It’s expected that by September 9 they will submit a detailed plan outlining the way forward. This isn’t improvisation: there’s money at stake and people waiting to get paid.
In my opinion, if they manage to execute this plan well, it could be a positive sign for the industry because it would show that even exchanges in trouble can get back on track and respond to their users. But the market doesn’t forgive so easily anymore, and once trust is broken, it costs twice as much to rebuild.
Would you give a second chance to an exchange that announced its closure, or is it already burned for you?
$BTC $BNB $ETH
💎 Premium signals + analysis in the VIP Chat on my profile — one-time payment of 12 USDT, lifetime access. Join here 👇