Bit.com Announces Comprehensive Shutdown and Asset Migration Plan
The post Bit.com Announces Comprehensive Shutdown and Asset Migration Plan appeared on BitcoinEthereumNews.com.
Key Points: Bit.com to shut down operations, initiate asset migration by March 2026. User assets will be converted to USDT. Final withdrawals set until March 31, 2026. Cryptocurrency exchange bit.com announced its shutdown plan, initiating a phased reduction of operations and a user asset migration plan, effective from December 27, 2025. This closure’s impact on users and markets highlights migration and platform dependency challenges during the scheduled asset withdrawal ends by March 31, 2026. Bit.com Shutdown Details Emerge Amid Industry Shifts The cryptocurrency exchange Bit.com has confirmed its shutdown plans, introducing a schedule for ending existing operations while launching a comprehensive “User Asset Migration Plan.” The plan involves user asset migration, effective until March 2026, with details surfacing via diverse industry sources. As part of the shutdown, Bit.com will stop new customer registrations beginning December 27, 2025, and curtail operation of spot trading pairs and contracts by January 31, 2026. Furthermore, an auto-conversion process for small non-USDT assets into USDT will occur after January 31, 2026. Market reactions have so far been muted, with no official statements from key industry figures or regulatory bodies. Given the nature of Bit.com’s client engagement, the announcement highlights the exchange’s commitment to a managed withdrawal and migration period, balanced against modern liquidity concerns. No primary source confirmations or leadership quotes are available to support claims about the shutdown, making it vital to seek direct communication from Bit.com or its executives. Implications for Users: Asset Migration and Industry Reactions Did you know? In the past, similar plans such as Bit.com’s current User Asset Migration initiative, often involve converting assets to stablecoins like USDT due to their market reliability and liquidity advantages. CoinMarketCap data indicates Tether USDt (USDT) holds a stable price of $1.00. The USDT’s market dominance and its consistent performance in maintaining value stability…
Filed under: News - @ December 28, 2025 4:23 am