Bitget

2 months agoNews Editor

Crypto Week Ahead: Bitget Sets Withdrawal Timeline, CoinEx Winds Down Spot Trading

The week of Sept. 28 to Oct. 3 is packed with crypto policy deadlines, exchange changes, shutdowns, and token unlocks. Bitget said it will reopen withdrawals in phases from Sept. 28 through Oct. 2 after addressing a Sept. 24 security incident, and CEO Gracy Chen and Greater China lead Xie Jiayin are scheduled to host a live AMA on Sept. 28 for at least two hours to answer community questions. CoinEx, meanwhile, said it will cease operations and proceed with an orderly liquidation, with spot trading set to stop on Sept. 29. Beyond exchange developments, several regulatory milestones are due across major jurisdictions. The U.K. Financial Conduct Authority will open applications under its future crypto authorization regime on Sept. 30, while Australia’s transition period for digital asset licensing ends the same day. Brazil’s central bank is set to ban the use of stablecoins and other cryptocurrencies in cross-border settlement by eFX providers from Oct. 1, and Hawaii’s statewide ban on crypto ATMs also takes effect that day. South Korea is also due to introduce civil seizure rules for crypto assets. The calendar also includes product launches, governance votes, project closures, and large unlocks. Robinhood will hold its third HOOD Summit in Houston, Router Protocol plans to fully shut down by Sept. 30, and DoubleZero is scheduled to unlock about 1.66 billion 2Z tokens on Oct. 2, worth about $114 million and equal to roughly 47.69% of circulating supply.

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Bitget

2 months agoNews Editor

Crypto Week Ahead: Bitget to Restore Withdrawals in Stages, Robinhood Teases Product Event

The week of Sept. 28 to Oct. 4 is packed with scheduled events across crypto trading, product launches, regulation and macro data. Bitget said it will resume withdrawals in phases starting Sept. 28 after identifying and fixing the vulnerability tied to its Sept. 24 security incident, with Mandiant and SlowMist still assisting the investigation. Robinhood has scheduled a new product event for Sept. 29-30, and CEO Vlad Tenev called it one not to miss. CoinEx is set to halt all spot trading on Sept. 29 as part of an orderly wind-down, while Coinbase will suspend trading for BADGER and STORJ the same day. In regulation, the U.K. Financial Conduct Authority is expected to open crypto asset authorization applications on Sept. 30, South Korea will introduce civil seizure rules for crypto assets on Oct. 1, and Hawaii’s ban on crypto ATMs will take effect the same day. On the macro side, the U.S. Labor Department will release its September nonfarm payrolls report on Oct. 2. Other notable items include OpenSea Foundation’s planned early-October disclosure on SEA token TGE details and a projected first AQAv2 revenue transfer to the Hyperliquid Assistance Fund on Oct. 3.

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CoinEx

2 months agoNews Editor

ViaBTC CEO Yang Haibo says CoinEx hot wallet design used MPC-based dual signatures

ViaBTC founder and CEO Yang Haibo said in a post that CoinEx is shutting down, but argued that the exchange’s hot wallet system remains advanced enough to serve as a reference for the industry. According to Yang, CoinEx introduced an MPC-based dual-signature setup for its hot wallet architecture to remove single points of failure. He said the underlying infrastructure was split into a business system and a wallet system, each operated by a fully independent team holding one private key. Every withdrawal or transfer had to pass real-time, substantive risk-control reviews on both sides. Under that design, Yang said, compromising either system alone would not allow an attacker to steal assets. Yang also said the wallet signing process had to be implemented independently rather than relying on the native mechanisms of each node, which required extensive rebuilding work. He added that the team spent more than a year modifying most of the nearly 300 blockchains supported by CoinEx.

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CoinEx

2 months agoNews Editor

Legacy Crypto Exchanges Are Shutting Down as Traditional Finance Buyers Move In

CoinEx said on Sept. 15 that it will shut down, even though the exchange said it still had reserves above 100% and kept withdrawals open until Dec. 22. The platform, founded by ViaBTC creator Yang Haipo in December 2017, said it had served more than 10 million users across over 200 countries and regions and supported more than 1,000 crypto assets. Its closure adds to a growing list of older exchanges leaving the market this year, including AscendEX, BitMart and BitMEX. The report argues that this wave is no longer just about blowups. Trading activity and liquidity have been concentrating at the top, while compliance and operating costs keep rising. CoinGecko data showed spot volume across the top 10 exchanges fell from $2.70 trillion in the first quarter to $1.95 trillion in the second quarter, while Binance alone accounted for more than 40% of tracked spot share in August 2026, according to CoinMarketCap samples cited in the article. At the same time, licensing, reserve scale and access to new products such as tokenized stock-related trading are becoming harder for mid-sized platforms to secure. The piece also points to a parallel trend: traditional financial groups are buying regulated regional exchanges, while weaker or smaller platforms are choosing to close.

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Policy and Regulation

2 months agoNews Editor

WuBlockchain weekly: Fed hikes 25 bps, CLARITY stalls, CoinEx shuts down

WuBlockchain’s weekly roundup focused on policy, regulation and institutional moves across crypto and traditional finance. The U.S. Federal Reserve raised its target range for the federal funds rate by 25 basis points to 3.75%–4.00% in a unanimous 12-0 vote, while saying inflation remains elevated. In Washington, the CLARITY Act failed to advance in the U.S. Senate after falling short of the 60 votes needed to invoke cloture, with support not even reaching 50. The U.S. Securities and Exchange Commission also approved a temporary conditional “Innovation Exemption” that would let qualified tokenized securities venues pilot trading in tokenized NMS stocks under a limited framework. Outside the U.S., The Wall Street Journal reported that European Central Bank President Christine Lagarde personally intervened in a process that would have given Binance a foothold in the EU through Greece. In the UK, the Financial Conduct Authority said banks will still be allowed to keep payment restrictions on crypto exchanges even after the new cryptoasset regime takes effect in 2027. The week also included major industry developments: CoinEx said it will wind down its exchange after nearly nine years and close withdrawals on Dec. 22; the New York Stock Exchange is said to be working toward 24/7 on-chain trading through an ATS platform; Column launched bank-native stablecoin infrastructure; Circle launched the Arc mainnet and minted 10 billion ARC tokens; and Deutsche Bank said it plans to roll out crypto custody later this year, pending final regulatory approval.

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North Korea hackers

2 months agoNews Editor

Asia Express: North Korea-linked onchain malware jumps, CoinEx to shut after nine years

North Korea- and Iran-linked hackers were behind most of this year’s 420% rise in malware activity on public blockchains, according to Chainalysis, which said state-backed actors made up roughly two-thirds of new activity and tied the previously unattributed UNC5342 cluster to activity on Tron, Aptos and BNB Smart Chain. In a separate report, NBC said North Korea is using remote workers from third countries, including Iran and Lebanon, to pass job interviews before DPRK operatives take over the roles. Elsewhere in Asia, South Korean police referred 18 Polymarket users to prosecutors after identifying 26 users through public blockchain data, with total wagers of about 17.6 billion won, or $12.7 million. CoinEx said it will cease operations after nine years, citing weak trading volumes, lower liquidity in the bear market, and rising regulatory and compliance costs, while withdrawals will remain open until Dec. 22. The roundup also includes India’s tokenized corporate bond pilot with 10.25 billion rupees issued by three companies, Metaplanet’s cut to its Series 10 stock pool, policy developments in Hong Kong, Vietnam and Thailand, and new guidance from Singapore’s High Court on crypto asset valuation.

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Policy Regulation

2 months agoNews Editor

U.S. Senate stalls crypto market structure bill as Binance shifts commodity TradFi perpetuals to 24/5 trading

The U.S. Senate failed to advance the Digital Asset Market Clarity Act after the measure drew only 49 votes, well short of the 60 needed to move legislation forward. According to CoinDesk, negotiations broke down over ethics restrictions tied to President Donald Trump’s crypto holdings, with Democrats arguing the bill did not do enough to prevent senior officials from profiting from personal digital asset positions, while Republicans said they had already made major concessions. Binance, meanwhile, said its commodity-linked TradFi perpetual contracts would move to a 24/5 trading schedule starting Sept. 16 at 05:00 Beijing time, ending the previous one-hour daily maintenance pause. The change covers XAUUSDT, XAGUSDT, XPTUSDT, XPDUSDT, COPPERUSDT, CLUSDT, BZUSDT and NATGASUSDT, as well as future contracts in the same category. On-chain trackers also flagged several notable transfers. Onchain Lens said Multicoin Capital moved 441,000 HYPE, worth about $35.31 million, from four wallets to Coinbase Prime over the past six hours, a transaction interpreted as a possible pre-sale move. Lookonchain reported that BIT deposited 1,400 BTC to Binance and withdrew 10,000 ETH, while Lazarus Group sold 911 ETH over the past two hours at an average price of $2,499.

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CoinEx

2 months agoNews Editor

CoinEx to shut exchange business by Dec. 22, 2026, founder says users can withdraw in full and CET will be bought back

Crypto exchange CoinEx, which sponsored Taiwan’s Chinese Professional Baseball League All-Star Game in 2024, said it will wind down its exchange business and close the platform on Dec. 22, 2026. Founder Haipo Yang announced the decision in a public letter released on Sept. 15, saying CoinEx had failed to become a leading exchange and that security and compliance risks had become increasingly difficult to manage. According to the company’s shutdown plan, services will be phased out rather than halted all at once. New user registration stops on Sept. 15, non-spot services end on Sept. 22, and spot trading, CoinEx Smart Chain and OneSwap will stop on Sept. 29. Withdrawals will remain available until Dec. 22, 2026. Yang also said CoinEx’s reserve ratio is above 100%, while the report noted that both the reserve claim and the fulfillment commitment are statements from the platform and its founder. CoinEx said it will repurchase CET at 0.005 USDT per token with no quantity cap. The shutdown has also sparked fresh discussion about the cost of compliance for exchanges, with KOL giantcutie666 turning attention to HashKey. Separately, ViaBTC said its mining pool operations remain unaffected but users who send automatic withdrawals to CoinEx will need to reset those addresses before the linked function is removed.

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