CZ Says CoinEx Closure Different from Past Exchange Bankruptcies as Withdrawals Guaranteed

Binance co-founder CZ recently evaluated the recent closure of Chinese cryptocurrency exchange CoinEx, stating it differs from previous exchange bankruptcy scenarios. According to U.Today, CZ cited CoinEx's guarantee of user asset withdrawals as a key distinction. He noted that some exchanges closing during the current crypto downturn have at least allowed users to withdraw assets, contrasting with the QuadrigaCX case where customer funds were frozen. QuadrigaCX was a Canadian cryptocurrency exchange that went bankrupt in 2019.