CoinEx Announces Shutdown After Nine Years of Operation, Withdrawal Window Open Until December 22

BlockBeats news, September 15: Crypto exchange CoinEx has announced that, against the backdrop of a prolonged crypto market downturn, a significant contraction in overall industry trading volume and liquidity, and continuously rising regulatory requirements and compliance costs in major jurisdictions, it has decided to cease operations and initiate an orderly shutdown process.

CoinEx will stop new user registrations on September 15 and adjust contract trading to reduce-only mode; on September 22, it will halt non-spot businesses including contracts, wealth management, staking, and lending; on September 29, it will stop all spot trading; and on December 22, it will stop withdrawals and officially close the platform. CoinEx launched on December 22, 2017, and has been operating for nearly nine years.

According to the open letter, CoinEx is a global cryptocurrency trading platform founded in December 2017 by Yang Haipo, the founder of the ViaBTC mining pool. The platform once offered a variety of trading services including spot, contracts, leverage, and wealth management, and issued the platform token CET.