CoinEx Crypto Exchange to Cease Operations on December 22, 2026
CoinEx crypto exchange has announced that it will cease operations and begin an orderly wind-down on December 22, 2026, nine years to the day after its launch in 2017. The Seychelles-based platform's founder and CEO Haipo Yang emphasized user protection, stating that reserves exceed 100% and all user assets are fully backed and available for withdrawal.
Yang attributed the decision to cease operations to market downturns, declining volumes, and rising regulatory costs. Despite considering a sale, he chose against it in order to maintain a clean ending and not compromise user trust.
CoinEx's utility token, CET, will be repurchased at its initial price of 0.005 USDT with no cap. The token has traded at $0.00049, down by around 97% since its all-time high of $0.15 in 2018.