CoinEx Halts Operations Amid Market Downturn
CoinEx, a Hong Kong-based cryptocurrency exchange, has announced its decision to cease operations due to persistent market downturns and escalating regulatory challenges. The struggling crypto sector has been under pressure, with Bitcoin hovering near two-year lows of around $60,000 - a stark contrast to its peak of nearly $130,000 reached in October 2025.
The recent market rebound was short-lived amid fears of potential Federal Reserve rate hikes and uncertainties surrounding the U.S. Clarity Act, a key crypto regulation. Analysts have noted a significant drop in Bitcoin trading volumes, further compounding market challenges.
CoinEx plans an orderly wind-down, ceasing services from September 15, 2026, while allowing withdrawals until December 22. The firm cited prolonged weak cryptocurrency market, shrinking trading volumes, and increasing regulatory demands as reasons to cease operations.