Crypto exchange CoinEx will close permanently on December 22, 2026, exactly nine years after launch, and has told customers to withdraw funds before that deadline as it executes an orderly wind-down. The company cited a prolonged crypto market downturn, shrinking trading volumes and liquidity, and mounting compliance expenses as key reasons. It says reserves exceed 100%, withdrawal channels remain open, and non-spot and spot services are being phased out in stages. CoinEx will repurchase remaining CET at its original listing price and move unclaimed USDT into independent custody with a recurring fee. The closure follows recent shutdowns by BitMEX and BitMart, underscoring accelerating consolidation among exchanges.
This update represents a notable development in the Crypto sector. Organizations and founders tracking this space should evaluate potential strategic and technical implications on their operations.