Crypto exchange CoinEx said it will begin an orderly shutdown of its platform, citing a prolonged downturn in the digital asset market, a sharp contraction in industry-wide trading volume and liquidity, and rising regulatory requirements and compliance costs across major jurisdictions. Under the plan, CoinEx will stop accepting new user registrations on Sept. 15 and switch futures trading to reduce-only mode on the same day. The exchange will then halt non-spot products, including futures, wealth management, staking, and lending, on Sept. 22, followed by a suspension of all spot trading on Sept. 29. Withdrawals will end on Dec. 22, when the platform will formally close. CoinEx launched on Dec. 22, 2017, and has operated for nearly nine years.
Crypto exchange CoinEx said it has decided to cease operations and start an orderly wind-down process. The company cited a prolonged slump in the crypto market, a marked contraction in overall industry trading volume and liquidity, and steadily rising regulatory requirements and compliance costs in major jurisdictions.
Under the timetable announced by the exchange, CoinEx will stop new user registrations on Sept. 15 and place futures trading into reduce-only mode. On Sept. 22, it will halt non-spot businesses including futures, wealth management, staking, and lending. On Sept. 29, all spot trading will stop. On Dec. 22, withdrawals will end and the platform will formally shut down.
CoinEx went live on Dec. 22, 2017, and has been in operation for nearly nine years.
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