CoinEx Shuts Down Trading Operations Amid Regulatory Costs
CoinEx, a Seychelles-based cryptocurrency exchange, is shutting down its trading operations after nearly nine years in business. The company cited declining trading volumes, weaker liquidity, and rising regulatory costs as reasons for the decision.
The shutdown will be an orderly process with multiple phases, giving users time to withdraw their assets before December 22, 2026. CoinEx has assured users that its reserve ratio exceeds 100%, meaning every user asset is fully backed and available for withdrawal throughout the shutdown process.
CoinEx founder Yang Haipo acknowledged that the exchange had not become one of the industry's leading exchanges despite serving millions of users across over 200 countries. He expressed regret at the inability to create long-term value for CET token holders, who will be able to buy back their tokens at 0.005 $USDT each until no more tokens remain.
Not all CoinEx services are shutting down: ViaBTC mining pool and CoinEx Wallet will continue operating independently of the exchange's trading platform.