CoinEx Ends 9-Year Run as Crypto Trading Slump Hits Exchange

Key Insights: CoinEx will close after nearly nine years of operations. Spot crypto trading will stop on Sept. 29. Users can withdraw assets through Dec. 22. CoinEx said it would cease operations after nearly nine years, starting a phased shutdown on Sept. 15, 2026. The exchange blamed weaker crypto trading activity, thinner liquidity, rising regulatory requirements, and higher compliance costs. Founded in 2017, the platform had expanded across spot, futures, margin, lending, staking, and automated trading services. Its official materials said it served over 10 million users across 200-plus countries and regions. That scale makes the wind-down relevant beyond token holders. It also tests how a long-running centralized venue manages customer exits under weaker market conditions. The closure removes another centralized venue from an industry where trading activity remains concentrated among larger platforms. Users now face fixed deadlines for closing positions, converting assets, and withdrawing funds before the platform stops operating. CoinEx Begins Phased Shutdown of Trading Services The official Sept. 15 announcement said new registrations stopped immediately. Referral commissions and other rewards also ended, while futures contracts entered reduced-only mode. CoinEx Shutdown Announcement | Source: X The platform also stopped accepting new orders for margin trading, loans, Earn, staking, fiat services, and strategic trading. Existing users can still manage positions under the published wind-down schedule. All non-spot services are scheduled to stop on Sept. 22. On-chain deposits will also close that day, except CoinEx Token deposits, which remain available until Sept. 29. Spot crypto trading will end on Sept. 29. The exchange will also stop operations for CoinEx Smart Chain and OneSwap on that date. The company said withdrawals would remain available until Dec. 22. It urged users to withdraw early because blockchain congestion could affect confirmation times and network fees. CoinEx Sets Asset Settlement and Withdrawal Rules The company said users must withdraw Tether’s USDT during the 90-day withdrawal period. Unwithdrawn balances after Dec. 22 will move into independent custody under the published settlement terms. The exchange said a monthly custody fee would equal 5% of the original balance recorded at withdrawal expiry. Users can submit custody claims by email until Aug. 22, 2028. CoinEx Token holders face a separate settlement process. The platform said it would repurchase remaining CET balances at $0.005 per token when spot trading ends. CoinGecko historical data showed CET closed near $0.00527 on Sept. 12. The token had traded above $0.0123 at the start of September. That decline placed the repurchase price near recent market levels before the shutdown announcement. However, the fixed settlement price also removes further market-price exposure after trading ceases. The company said its Wallet and Vault products operate independently from the exchange. Those services will remain operational after the centralized platform closes.