CoinEx Shuts Down After Nearly Nine Years as Crypto Exchange Sets Final Withdrawal Deadline

After almost nine years of operation, after being served a cease and desist notice on September 14, new registrations have been suspended since September 15, and CoinEx’s futures markets have enter reduce-only mode, meaning customers cannot open or increase their futures positions, but can only reduce or close their positions.

The exchange cited a prolonged bear market in cryptocurrency, lower trading volume and liquidity across the industry, and rising regulatory and compliance expenses as the reasons.  CoinEx also said uncertainty in its operations had become intolerable.

The announcement did not reference any regulatory enforcement action, lawsuit, or court order as the immediate trigger for the closure. These services would be ended before spot trading.

All fiat services and products, margin trading, loans, Earn service, staking, and strategic trading were suspended on 15 September. Futures positions can be reduced until Sept.