Bit.com Shuts Down Spot Trading by Jan 31, Spurrs Crypto Migration Surge

Bit.com to End Spot Trading by Jan 31 as Asset Migration Begins

Bit.com, a major cryptocurrency trading platform, has announced the phased closure of several core services, including the termination of spot trading by January 31, 2026 according to the company announcement. The platform is implementing a structured asset migration plan to facilitate user withdrawals and account settlements. This announcement is part of a broader business restructuring strategy, with a clear timeline for service reductions.

The platform has already suspended new user registrations and restricted contract trading to position closures only. Spot trading will remain active until the specified date, after which all trading will cease. Non-USDT assets may automatically convert to USDT at the closing price post-shutdown, excluding tokens in observation zones.

Bit.com emphasized that withdrawals will remain accessible throughout the migration period, with typical processing times ranging from 30 minutes to 24 hours. Starting February 1, any unwithdrawn assets will be transferred to a backup system, supporting only account access and withdrawals. The platform will notify users via email for contract pair settlements and warned against scams by clarifying that it will never request sensitive information through private messages.

Asset Migration and Service Timeline

Bit.com has outlined a detailed timeline for the migration and shutdown process. From now until January 31, users can withdraw assets directly from the main site. Starting February 1, remaining funds will move to a backup site, which will not support trading or asset management features. The final deadline for all services is set for March 31, 2026, according to the platform's timeline, after which the platform will shut down entirely.

Cloud mining services will terminate on January 25, with unused service days refunded based on the original order price. Wealth management products will stop accruing returns on January 30, and users must withdraw settled funds by that date. GoRich users are advised to cancel pending orders and withdraw assets before January 30. The platform recommended that users convert meme tokens to mainstream assets like USDT to avoid liquidity issues.

Matrixport Migration Option and Regulatory Caution

To support users during the transition, Bit.com confirmed that Matrixport will offer an optional migration path for spot and derivatives users. Participation in this migration is voluntary, and post-migration services will be handled independently by Matrixport. The platform reiterated its commitment to regulatory compliance and warned users to remain vigilant against scams.

The announcement underscores a significant shift for Bit.com, as it moves away from active trading services. The structured migration plan aims to ensure transparent asset handling and full withdrawal access until the process concludes. Bit.com's decision reflects broader industry trends, as other platforms also navigate regulatory pressures and evolving market demands.

Market and Investor Implications

The shutdown of Bit.com's spot trading services could impact user activity and liquidity in the broader crypto market. Investors and traders are advised to evaluate their positions and consider alternative platforms for continued trading. The structured migration approach is intended to minimize disruption for users, ensuring a clear path for asset withdrawal and settlement.

As Bit.com moves forward with its restructuring, the market will be watching for signs of how this shift affects investor confidence in the platform. With regulatory scrutiny increasing across the crypto industry, Bit.com's decision may signal a broader trend toward consolidation and compliance in the sector.