CoinEx To Shut Down Exchange After Nine Years

Crypto exchange CoinEx has announced it will wind down its operations after nearly nine years in the industry. The platform will officially end spot trading on September 29, giving users a final window to trade before closing up shop completely.

Following the trading cutoff, users will have until December 22 to withdraw their funds from the platform. The team behind the exchange pointed to a combination of lower market liquidity and rising compliance costs as the main reasons for the shutdown.

This news serves as a reminder of the rising pressures facing smaller crypto platforms today. Traders who still hold funds on the exchange should act quickly to withdraw their assets well ahead of the December deadline to avoid any issues.