Breaking: BitMart token $BMX plunges more than 60% after exchange says it will shut down

BitMart's announced shutdown triggered a sharp collapse in its exchange token, highlighting acute counterparty and venue risk for traders holding platform-linked assets. While the immediate damage is concentrated in BitMart-associated positions, the event can tighten liquidity, elevate perceived exchange risk, and weigh on broader crypto sentiment as market participants reassess custody and execution venues.