Bullish
BitMart Co-Founder Terence Lee Exits All Company Affairs
08-13
Terence Lee confirms withdrawal from BitMart operations and management effective July 31, 2026, citing lack of authority over user funds amid platform suspension.
Woofun AI reports that Terence Lee, an early co-founder of BitMart (GBM Global Holding Company Limited), has issued a formal statement confirming his complete withdrawal from all company affairs. Lee stated that he will cease involvement in any operations, management, or asset-related matters of the company and its affiliated entities effective July 31, 2026, noting that procedures for stepping down are currently underway.
Lee clarified that he does not possess authority over platform assets, accounts, or user funds, nor can he address inquiries regarding operations or asset disposal, directing users to official channels and legal means. He expressed regret for difficulties caused by the suspension of platform operations and announced legal action against individuals spreading false statements and harassment involving his personal information.
WOOFUN AI
Impact Assessment · Quick Read
The departure of a founding figure during a platform suspension highlights significant governance fragmentation and operational risk for BitMart. With the co-founder explicitly disclaiming authority over user funds, investors may face heightened uncertainty regarding asset recovery and platform stability. This development could accelerate regulatory scrutiny and erode remaining user trust in the exchange's ability to resolve ongoing issues.
Generated by WOOFUN AI · For reference only, not investment advice
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