Bitmart

A broad crypto consolidation is accelerating as more than 100 projects shut down, file for bankruptcy or go permanently dark in 2026. The pressure is hitting layer 2 networks, DeFi protocols, tooling startups and exchanges as token treasuries shrink and hacks become harder to survive.

A sharp decline in retail activity is forcing smaller crypto platforms into a tougher fight for survival. BitMEX, BitMart and other crypto-linked firms are becoming symbols of a market where scale, compliance and transparency matter more than hype.

Storj Labs has filed for Chapter 11 bankruptcy in West Virginia while saying its decentralized cloud storage services will continue. The company’s restructuring proposal includes a rare plan to share ownership of the reorganized business with token holders, management, and investors.

BitMart is closing its trading platform after nine years, with all spot and derivatives trading scheduled to end on Aug. 26. The exchange token BMX fell about 58% in 24 hours as users were told withdrawals would remain open but could face added security checks.