Bit .com, the trading platform under Justin Sun's umbrella: will undergo a phased contraction of its current business and simultaneously launch the "User Asset Migration Plan."

BlockBeats News, December 27, the cryptocurrency exchange Bit .com announced that it will orderly reduce its existing business and simultaneously initiate a "User Asset Migration Plan." The migration plan indicates that effective immediately, the platform will stop new user registrations, contracts will only allow closing positions, spot trading will cease on January 31, 2026, starting in late January, cloud mining, wealth management, GoRich, and other businesses will gradually terminate and settle, assets not withdrawn promptly will be transferred to a backup site for continued withdrawal support starting February 1, with final service cutoff on March 31.

Bit .com will continue to release clear and comprehensive user guidance through official announcements, emails, internal messages, and other channels to assist users in smoothly completing asset processing and migration within a clear time window. Specific timing, operations, and precautions will be based on subsequent announcements and guidance.

Public information shows that Bit .com was launched in 2020, is a subsidiary/affiliate platform of the Singapore cryptocurrency financial services platform Matrixport, and Matrixport is the main company founded by Wu Jihan after leaving Bitmain in 2019 (where he serves as chairman).