CoinEx to cease operation after 9 years, citing ‘significant’ crypto contraction
CoinEx is winding down operations because of a prolonged crypto downturn, falling trading volume and liquidity, and higher regulatory and compliance costs. The exchange will stop new registrations and rewards, move futures to reduce-only mode, and end new orders or subscriptions across fiat, margin, lending, earn, staking, and strategic trading services. On Sept. 22, CoinEx will end all non-spot services and onchain deposits except CET deposits. On Sept. 29, spot trading will be shut down and non-USDT assets will be processed. On Dec. 22, withdrawals will close and the platform will cease operating; any remaining USDT will be moved to an independent custodian with a monthly fee. CoinEx will also buy back CET at its original listing price of 0.005 USDT. CoinEx Wallet and CoinEx Vault will continue operating separately. CoinEx launched in 2017 and is the latest exchange to shut down amid industry pressure.
