CoinEx to Shut Down After 9 Years of Operations

CoinEx has announced it will gradually shut down its exchange, which has operated for nine years, maintaining withdrawal services until December 22, according to Odeali. The decision follows prolonged market stagnation in the virtual asset sector, declining industry trading volume and liquidity, and rising regulatory and compliance costs. CoinEx halted new sign-ups starting September 15 and converted futures trading to position reduction only. Non-deliverable services will end on September 22, while spot trading concludes on September 29. Withdrawal services will remain available until 11 a.m. KST on December 22, with CoinEx planning to repurchase its native token CET at 0.005 USDT per unit. CoinEx Wallet and CoinEx Vault will continue operating.