CoinEx Announces Closure Due to Shrinking Revenue and Rising Compliance Costs
CoinEx, a long-running crypto exchange, is shutting down after nearly nine years of operation. The platform cited prolonged market downturns, shrinking trading volumes and liquidity, and rising regulatory costs as reasons for its decision. CoinEx had grown into a global venue supporting spot, futures, staking, and lending since its launch in December 2017.
The shutdown will unfold in stages over roughly three months. New user registration stops on September 15, followed by the end of futures, staking, lending, and other non-spot services on September 22. Spot trading will halt on September 29, with a reduce-only rule applied to futures until then.
Withdrawals remain open through December 22, after which the platform closes entirely. Users holding balances have until that final date to move their funds off the exchange. CoinEx emphasized that its decision is not due to a security incident but rather market conditions, urging users to withdraw or transfer their funds before each deadline.