CoinEx to Shut Down Operations as Crypto Market Slumps
Hong Kong-based exchange CoinEx announced it will cease operations, beginning a wind-down on September 15, 2026, with withdrawals available until late December.
CoinEx, a cryptocurrency exchange headquartered in Hong Kong, confirmed it will stop providing services starting September 15, 2026 and will continue withdrawal processing until December 22. The move follows a sustained market contraction, with Bitcoin hovering around $60,000 after a roughly 50 % drop from its October 2025 high. Declining daily spot trading volumes, which fell to about $2.2 billion in July and further to $1.8 billion in August, signal near three-year lows in participation.
Rising regulatory demands across major jurisdictions have also strained the business. Despite the shutdown, CoinEx said its asset-reserve ratio remains above 100 % and all user funds are fully backed for withdrawal. Analysts attribute the closure to anemic trading activity and competition from AI-driven and decentralized platforms.
Why it matters
The closure highlights the vulnerability of smaller crypto firms amid prolonged market weakness and tightening regulation.
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