Bit.com Announces Systematic User Asset Migration Plan as It Downsizes Operations

Bit.com, a leading crypto exchange, has unveiled a measured wind-down of select activities and will launch a User Asset Migration Plan to safeguard client funds during the transition.

The platform will issue comprehensive guidance through official announcements, email alerts, and on-site notices, outlining time-bound steps to complete asset processing and migration within a defined window.

Public disclosures show Bit.com began operations in 2020 and now functions as a subsidiary of Matrixport, the Singapore-based crypto financial services platform.

Wu Jihan founded Matrixport after departing from Bitmain in 2019, where he previously served as chairman.