CoinEx to End Operations After Nine Years Amid Crypto Market Slump

Cryptocurrency exchange CoinEx plans to wind down its operations after nearly nine years, citing a prolonged downturn in the crypto market and rising compliance costs. The exchange will stop spot trading on Sept. 29 and shut down completely on Dec. 22.

CoinEx Sets Wind-Down Schedule

CoinEx, founded by Haipo Yang in December 2017, announced the closure on Sept. 14. The exchange said it would follow an orderly wind-down process and provided users with a series of deadlines.

• Sept. 15: New registrations and referral rewards will end.
• Sept. 29: Spot trading will be suspended.
• Dec. 22: CoinEx will shut down completely.

Users will need to review the exchange’s instructions and complete any required account or asset withdrawals before the final closure date.

Market Conditions and Compliance Costs

CoinEx attributed its decision to the extended weakness in the cryptocurrency market and increasing compliance expenses. The exchange’s closure highlights the financial and regulatory pressures facing digital-asset platforms, particularly those operating across multiple jurisdictions.

CoinEx launched in 2017 and became known as a global cryptocurrency trading platform offering spot markets and other digital-asset services. Its planned shutdown will bring an end to operations that have continued for nearly nine years.