BitMEX to shut down after 11 years. CW 30 BitMEX and BitMart announced plans to cease operations. Movement Labs filed for bankruptcy after prolonged weak network activity. Meanwhile, Mirae Asset rebranded Korbit as Digital X following its acquisition, while LMAX explores strategic options, including a potential IPO or sale. BitMEX and BitMart announce exchange closures. Two cryptocurrency exchanges, BitMEX and BitMart, have announced they will cease operations. BitMEX, the pioneering derivatives exchange founded in 2014, will close on September 23, 2026, following a strategic review by its board. The exchange, known for inventing the 100x leverage perpetual swap, has stopped new account registrations immediately. From August 26, users can only reduce positions, not open new ones. All open positions will be force-closed at the closure time. BitMEX highlighted its 11-year track record of zero funds lost to hacks. Users are urged to withdraw funds before the deadline, after which account fees will apply to remaining balances. BitMart also announced an orderly cessation of operations, though specific details were not immediately available Movement Labs files for bankruptcy. The Movement blockchain has filed for bankruptcy after struggling to generate meaningful revenue since November 2025. According to DeFiLlama data, on-chain app daily revenue consistently fell below $800, while daily network fees remained in single digits, with just $1 in the past 24 hours. This poor performance came despite the project raising $141.4 million in total funding. The native token's fully diluted valuation has collapsed to $107 million, down over 99% from its peak. The stark contrast between the substantial capital raised and minimal operational revenue highlights the challenges facing the blockchain project. Mirae Asset rebrands Korbit to Digital X. South Korean financial giant Mirae Asset has completed its acquisition of 97.15% of local crypto exchange Korbit and rebranded it as Digital X. The company plans to build an investment ecosystem connecting RWA, security tokens, stablecoins, traditional assets, and digital assets. Mirae Asset emphasized its goal is not to surpass Upbit or Bithumb, but to combine global investment expertise with digital asset infrastructure to promote sustainable development in Korea's digital asset industry. Korbit currently holds less than 1% of the Korean market. Meanwhile, institutional forex and digital asset trading platform LMAX Group has hired Morgan Stanley and Stifel's KBW to evaluate strategic options, including a potential sale, SPAC merger, or IPO in the US or Europe. The company could be valued at up to $5 billion, with a Nasdaq listing being the preferred option. In 2021, J.C. Flowers acquired 30% of LMAX for $300 million, valuing the company at around $1 billion at the time. About 1token: 1Token is a digital asset investment management platform providing Crypto PMS, RMS, and Portfolio Accounting Software, managing over $20 billion in assets for more than 100 clients worldwide. All-in-one support designed for allocators, portfolio managers, treasury managers and fund operations and accountants, seeking transparency and control. * Front office (portfolio managers and traders) to view live position and exposure, calculate trading PnL and historical performance. * Middle office (ops and risk) to maintain portfolios and API accounts, book OTC trades, monitor risk metrics and analyze VaR/STV, generate shadow NAV with investor subscription/redemption/dividend. * Back office (admin and auditors) to collect and reconcile trades, generate valuation and PnL reporting under FIFO/WAC tax strategy.

Storj files for bankruptcy, explores equity path for tokenholders. BitMart Insights | 2026.07.26 16:00 2 mins read Decentralized cloud storage provider Storj Labs has filed for Chapter 11 bankruptcy protection. The company said it plans to keep its network running while restructuring legacy liabilities and exploring an ownership pathway for STORJ tokenholders. On Sunday, Storj said it filed the voluntary case in the US Bankruptcy Court for the Northern District of West Virginia. The company said ordinary operations and customer services would continue during the process, subject to court oversight, while its parent company, Inveniam, would continue to support the business. The restructuring could become an unusual test of whether utility-token holders can participate in the ownership of a company emerging from bankruptcy. In an open letter to its community, Storj said its liabilities largely predate its current strategy and are too substantial to resolve through business growth alone. It said the network continues to operate normally and its token's utility is unchanged. STORJ showed no significant immediate price reaction following the announcement, trading around $0.072 at the time of writing, according to CoinGecko. Storj explores equity pathway for tokenholders. Storj said management intends to propose a mechanism allowing tokenholders to participate in the reorganized company's equity. However, Storj has not disclosed how tokenholder eligibility would be determined, whether participation would involve a token snapshot or lockup, or how much equity might be allocated. The company acknowledged that any plan must follow bankruptcy priorities and receive court approval. Cointelegraph reached out to Storj for comment but did not receive a response before publication. Storj is among the crypto industry's longest-running decentralized infrastructure projects. Storj began in 2014 as an open-source peer-to-peer cloud storage project that sought to let users rent storage from other network participants rather than rely on centralized providers. Storj's bankruptcy filing comes in the same month as at least two other crypto companies sought Chapter 11 protection. Movement Labs filed under Subchapter V on July 15 after months of turmoil linked to its MOVE token, while Bitcoin mining pool Poolin filed on July 22 as it pursued a court-supervised sale of two Texas mining sites. BitMEX also announced in July that it would shut down after 11 years. Still, the derivatives exchange did not file for bankruptcy, instead opting for an orderly wind-down following a strategic review. Disclaimer: The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are in line with their specific circumstances. Investment based on this is at their own risk.