CoinEx Shuts Down After 9 Years: CEO Blames Market Downturn and Compliance Costs

Crypto exchange CoinEx announced on Tuesday that it is winding down operations after nine years, citing a prolonged market downturn, declining trading volumes, and escalating regulatory and compliance costs that exceeded "reasonable boundaries." CEO Haipo Yang confirmed the decision in a post on X, acknowledging that the security and compliance risks of running a crypto exchange had become "increasingly difficult to contain."

The wind-down follows a structured timeline. From September 22, CoinEx will halt all non-spot services and onchain deposits (except CET deposits). Starting September 29, spot trading will be discontinued and non-USDT assets processed. The final withdrawal deadline is December 22, after which the platform will cease operations entirely. Any unwithdrawn USDT will be transferred to an independent custodian subject to monthly custody fees. The exchange will also buy back its native CET token at the initial listing price of 0.005 USDT per token, slightly above its pre-announcement market price.

CoinEx was launched in December 2017 by crypto mining pool ViaBTC and currently ranks 33rd globally with $58 million in 24-hour trading volume, according to CoinMarketCap. The closure adds to a growing wave of exchange shutdowns in 2026, following similar exits by BitMart, BitMEX, and AscendEX amid tightening regulatory scrutiny and sustained bear-market pressure. CoinEx Wallet and CoinEx Vault will continue operating independently from the exchange.