Bit[.]com, the trading platform under Justin Sun's control: will orderly downsize its current business and simultaneously initiate 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 launch the “User Asset Migration Plan.” The migration plan indicates that the platform will stop new user registration with immediate effect, 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 services will be gradually terminated and settled. Assets not withdrawn promptly will be transferred to a standby site for continued withdrawal support starting from February 1, with final services terminating on March 31.

Bit[.]com will continue to release clear and complete user guidance through official announcements, emails, internal messages, and other channels to assist users in smoothly completing the asset processing and migration process within a defined time window. Specific timing, operational methods, and precautions will be based on subsequent announcements and guidance.

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