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Crypto

CoinEx Shuts Down Amid Market Weakness

Guavy AI Editorial Team
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USDT
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CoinEx, a nine-year-old cryptocurrency exchange, has announced its permanent shutdown on December 22. The decision comes amid weak market conditions, diminished liquidity, and rising compliance costs.

The platform cited the long crypto winter, shrinking liquidity, and regulatory hurdles as reasons for the exit. Unlike sharp exchange failures in previous market cycles, CoinEx is taking a planned approach to wind down operations.

Customer funds are fully backed, with reserves kept above 100%. Users can withdraw assets until December 22. The company will purchase any unsold CET units at $0.005 USDT per token as part of the buyback program.

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