CoinEx Closes Doors Amid Crypto Trading Slump

CoinEx has announced that it will cease operations after nearly nine years of serving over 10 million users across 200-plus countries and regions.

The exchange cited weaker crypto trading activity, thinner liquidity, rising regulatory requirements, and higher compliance costs as the reasons for its closure.

According to CoinMarketCap data, CoinEx had around $59.9 million in 24-hour spot volume before the wind-down, placing it well below the largest centralized exchanges by trading activity.