Crypto Exchange CoinEx Ends Operations After Nine Years Amid Severe Industry Slump
TL;DR:
- CoinEx is closing its centralized exchange after nine years, blaming the prolonged market downturn, weaker trading volumes and liquidity, and rising regulatory and compliance costs.
- Non-spot services and most deposits end September 22, spot trading ends September 29, and withdrawals remain available until December 22.
- Unclaimed USDT will move to independent custody with a 5% monthly fee, while CoinEx Wallet and CoinEx Vault will continue operating separately afterward for users.
CoinEx is shutting down its centralized exchange after nine years, citing a prolonged market downturn, shrinking trading volumes and liquidity, and rising regulatory and compliance costs. New user registrations, referral commissions and other rewards are being halted as the wind-down begins. The closure turns years of operating pressure into a full exit from exchange services rather than another round of retrenchment. Founder and CEO Haipo Yang said security and compliance risks had become increasingly difficult to contain, while emphasizing that users should be able to withdraw their assets in full before operations end across a difficult cycle.
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