CoinEx to Wind Down Operations, Set for Full Shutdown on Dec. 22
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CoinEx's planned shutdown cites weak market conditions, reduced liquidity, and rising compliance costs, highlighting ongoing stress among centralized exchanges. While CoinEx claims >100% reserves and an orderly wind-down, the cessation of spot trading and related services removes a liquidity venue and can amplify short-term risk aversion across crypto markets, particularly for users needing to unwind positions and migrate assets before withdrawal deadlines.
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⚠️ AI سے تیار کردہ تجزیاتی سمجھ خبروں کے مواد پر مبنی ہے اور صرف معلوماتی مقاصد کے لیے فراہم کی گئی ہے۔ یہ سرمایہ کاری کا مشورہ نہیں ہے اور نہ ہی BingX کے خیالات کی نمائندگی کرتی ہے۔ سرمایہ کاری میں رسک شامل ہے۔ براہ کرم ذمہ داری سے ٹریڈ کریں۔
CoinEx has announced it will cease operations and begin an orderly wind-down starting Sept. 15, citing a prolonged cryptocurrency market downturn, a sharp drop in industry-wide trading volume and liquidity, and rising regulatory requirements and compliance costs.
The exchange said its current asset reserve ratio is above 100% and that all user assets are fully backed by reserves.
Under its timeline, CoinEx will terminate all non-spot services on Sept. 22. Spot trading will be halted on Sept. 29, with CoinEx Smart Chain (CSC) and OneSwap scheduled to shut down the same day. Withdrawal services will remain available until Dec. 22, when the CoinEx trading platform will officially go offline.
CoinEx added that CoinEx Wallet and CoinEx Vault are not affected and will continue operating normally.
