CoinEx Halts Operations Amid Crypto Market Stagnation
CoinEx, one of the longest-standing exchanges in the crypto sector, has announced its decision to cease operations after nine years. The exchange cited prolonged stagnation in the market, declines in trading volume and liquidity, increasing regulatory requirements, and compliance costs as reasons for the shutdown.
The phased closure process will begin on September 15th. New user registrations will be halted, and futures markets will switch to a 'Reduce-Only' mode. Futures trading, staking, lending, and other non-spot services will cease on September 22nd, followed by spot trading on September 29th.
CoinEx has assured users that all assets are backed by reserves, with an asset-to-reserve ratio exceeding 100%. Withdrawal services will remain open until December 22, 2026. The exchange has also announced a special arrangement for its native token, CET, offering a buyback at $0.005 USDT per token between September 15th and 29th.