Bit.com to Wind Down Operations by March 31, 2026 — Users Urged to Withdraw or Convert to USDT
Bit.com announced a phased shutdown running from December 27, 2025 to March 31, 2026 and urged users to withdraw assets or migrate balances to partner Matrixport. The three-phase plan: Phase 1 (from Dec 27) halts new registrations and keeps normal withdrawals and spot trading; Phase 2 restricts services and closes spot trading on Jan 31, 2026 while contract trading is limited to closing positions only; Phase 3 completes migrations with a backup withdrawal station and final deadline of Mar 31, 2026. Users may convert holdings to USDT or withdraw directly. Cloud-mining refunds and settlement of financial products are scheduled (cloud mining ends Jan 25; financial products settle by Jan 30). Bit.com says withdrawal processing remains 0.5–24 hours and promises traceable transfers for most assets, while warning users about potential scams and urging use of the official app/site. Traders should close leveraged positions before contract restrictions and prioritize moving assets before the Jan 31 spot-trading cutoff or the March 31 final withdrawal deadline.
Bearish
Exchange shutdowns typically increase short-term selling pressure as users withdraw or convert holdings, raising supply on markets—especially for exchange-listed tokens and stablecoins like USDT conversions. Bit.com’s phased wind-down includes halting new registrations, closing spot trading on Jan 31, 2026, and limiting contract trading to closes only; these actions encourage position liquidations and transfers that can weigh on spot and derivatives liquidity. Historical precedents (e.g., exchange delistings, platform exits) show increased volatility and temporary price declines for assets concentrated on the affected platform. Long-term impact is likely limited if migrations proceed smoothly to trusted custodians (Matrixport) and no asset losses occur; confidence can restore over time. However, risk factors include withdrawal delays, security incidents, or fraud during migration—each could exacerbate outflows and prolong bearish sentiment. For traders: expect heightened short-term volatility around the Jan 31 and Mar 31 milestones, prioritize risk reduction (close or hedge leveraged positions), and monitor withdrawal/market liquidity metrics and official updates closely.