CoinEx Shuts Down Amidst Prolonged Crypto Market Downturn

Hong Kong-based cryptocurrency exchange CoinEx has announced it will cease operations due to prolonged market downturn, citing anemic trading volumes and unsustainable operations.

The decision comes as Bitcoin hovers near two-year lows of around $60,000, down about 50% from its October 2025 peak of nearly $130,000. A recent rebound triggered by fears of dollar debasement proved fleeting amid uncertainties over a potential Federal Reserve rate hike and the US Clarity Act.

CoinEx said it will gradually cease services from September 15, 2026, and withdrawal services will remain available until December 22. The exchange maintained an asset-reserve ratio of more than 100% and all user assets were fully backed and available for withdrawal in full.