BitMart Proposes Three Exit Options for Users Amid Balance-Sheet Gap
The preliminary plan would let users receive cash, stablecoins and major tokens, pursue stolen assets or accept a token tied to future recoveries.
BitMart has proposed three preliminary exit options for users as the exchange addresses operating difficulties and a balance-sheet gap, marking a significant step in its plan for distributing remaining assets.
The proposal would convert user account balances into U.S. dollar amounts for review by an independent person appointed by a court. Users could then choose a proportional allocation of fiat currency, stablecoins and major tokens for immediate exit.
A second option would exchange account balances for recovery tokens, allowing users to participate in efforts to recover stolen assets. A third would provide continuation tokens that could trade on decentralized exchanges and would be backed by investment interests, the disposal of illiquid assets and potential future profits.
BitMart plans to seek feedback from its 50 largest users over the next three to four weeks. Implementation of the plan would continue under court supervision.
