What Bit.com is
Bit.com was a crypto derivatives exchange (futures, perpetuals and above all options) launched in August 2020 by Matrixport, the crypto financial services group founded in 2019 as a spin-off of Bitmain, the world's largest producer of mining hardware. In its early years it had carved out a recognisable role in BTC and ETH options, in direct competition with Deribit. On 27 December 2025 it announced a three-phase shutdown plan for "corporate restructuring": no new registrations, end of spot trading on 31 January 2026, definitive closure and end of withdrawals on 31 March 2026 (Verified: September 2026). Customers were invited to withdraw their funds or migrate to Matrixport's services, which remain operational (lending, structured products, OTC, Cactus Custody institutional custody). Since 20 March 2026 Matrixport has been called BIT and uses the bit.com domain: according to the company it is only a rebrand (accounts, companies and contracts remain unchanged), not the reopening of the exchange. The website states that BIT's services are not aimed at residents of the European Union. (Verified: October 2026)
Regulation and licences
- MiCA: not applicable — Bit.com never obtained (nor publicly applied for) a European CASP authorisation and has been closed since 31 March 2026 (Verified: September 2026). It was based in the Seychelles.
- The platform no longer exists; for any funds not withdrawn within the migration window, the only point of contact indicated by the company is the support team of BIT (formerly Matrixport), which should be asked for the updated procedure.
Security
- There are no hacks or losses of customer funds in the exchange's history; the closure was attributed to a group restructuring, not insolvency, and took place in an orderly way with announced withdrawal windows (Verified: September 2026).
Alternatives
For anyone looking for a similar service that is operating and authorised in the EU:
- Bybit — derivatives and spot, with an Austrian MiCA licence for the EU market.
- Kraken — derivatives in the EU through a group entity with a MiFID licence, and spot with a full MiCA licence.
FAQ
Does Bit.com still exist? No. The exchange ceased operations on 31 March 2026, at the end of a three-phase shutdown begun on 27 December 2025. The bit.com domain now hosts BIT, the name used by parent company Matrixport since 20 March 2026: it is a different service which, according to its website, is not aimed at EU residents.
Why did Bit.com close? The company spoke of "corporate restructuring": the Matrixport group (now BIT) consolidated its activities around financial services (lending, structured products, custody), disposing of the exchange.
I still have funds on Bit.com: what do I do? The withdrawal window ended on 31 March 2026; the channel indicated by the company is the support team of BIT (formerly Matrixport), which should be asked whether and how the funds can still be recovered.
Verified sources
- https://www.bit.com/bit-formerly-matrixport
- https://www.kucoin.com/news/flash/bit-com-announces-three-phase-shutdown-plan-to-march-31-
- https://www.thestreet.com/crypto/bankruptcy/crypto-exchange-announces-phased-shutdown-by-2
- https://www.cryptopolitan.com/bit-com-set-to-wind-down-operations/
- https://coincodecap.com/matrixport-review
