CoinEx to Shut Down After Nine Years as Exchange Cites Market Slump and Compliance Costs

CoinEx announced on September 15 that it will cease exchange operations and begin an orderly wind-down after nine years in business. The closure will take place in stages: non-spot services are scheduled to end on September 22, spot trading on September 29, and withdrawals will remain available until 02:00 UTC on December 22, according to the exchange's announcement and reported service timetable.

The decision gives CoinEx customers a defined exit window rather than ending all functions at once. After spot trading stops, the published schedule leaves withdrawals as the remaining available service until the December deadline.

CoinEx sets September trading shutdown and December withdrawal deadline

CoinEx said it was beginning an orderly wind-down of its exchange operations after nine years in business.

According to the timetable reported by Cointelegraph, non-spot services are due to end on September 22, followed by spot trading on September 29.

Withdrawals are scheduled to remain available until December 22 at 02:00 UTC, when the final customer deadline arrives.

Market downturn and compliance costs cited for closure

CoinEx attributed its shutdown to a prolonged downturn in the cryptocurrency market, shrinking industry trading volume and liquidity, rising regulatory requirements, and compliance costs that it said had exceeded reasonable limits, according to The Crypto Times.

Rather than one isolated event, the report linked the closure to a combination of lower activity and liquidity and the cost of meeting regulatory requirements.

CET holders face a 0.005 USDT repurchase during wind-down

CoinEx set out a specific treatment for holders of its native CET token: remaining tokens will be repurchased at 0.005 USDT per token during the wind-down period, BeInCrypto reported.

The arrangement forms part of CoinEx’s staged cessation of services and accompanies the December withdrawal deadline.

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