Crypto exchange CoinEx said it will cease operations and begin an orderly wind-down, citing a prolonged downturn in the crypto market, a sharp contraction in industry-wide trading volume and liquidity, and rising regulatory and compliance costs across major jurisdictions. The platform said it stopped new user registrations on Sept. 15 and switched futures trading to reduce-only mode the same day. It will halt non-spot businesses including futures, wealth management, staking, and lending on Sept. 22, stop all spot trading on Sept. 29, and end withdrawals on Dec. 22, when the platform will formally close.
A public letter described CoinEx as a global cryptocurrency exchange founded in December 2017 by Yang Haipo, the founder of the ViaBTC mining pool. The exchange went live on Dec. 22, 2017. CoinEx said it had offered a range of services including spot, futures, margin, and wealth management products, and had also issued its platform token CET.
Crypto exchange CoinEx said it will stop operating and begin an orderly shutdown process, citing a prolonged slump in the crypto market, a sharp decline in industry-wide trading volume and liquidity, and rising regulatory requirements and compliance costs in major jurisdictions.
Shutdown timeline
According to the announcement, CoinEx stopped new user registration on Sept. 15 and shifted futures trading to reduce-only mode on the same day.
The exchange said it will end non-spot businesses, including futures, wealth management, staking, and lending, on Sept. 22. All spot trading will stop on Sept. 29. Withdrawals will end on Dec. 22, when the platform will formally close.
Company background
A public letter said CoinEx is a global cryptocurrency exchange founded in December 2017 by Yang Haipo, founder of the ViaBTC mining pool. The platform launched on Dec. 22, 2017, and has operated for nearly nine years. It previously offered spot, futures, margin, and wealth management services, and issued its platform token CET.
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