CoinEx to Shut Down After Nine Years as Costs Rise

CoinEx will cease operations and begin an orderly wind-down after roughly nine years in business, founder Haipo Yang said in a public post dated September 15, 2026, with the CoinEx shutdown attributed to shrinking revenue and rising compliance costs. Yang announced the closure on X, telling the CoinEx community that the exchange would begin winding down. In the visible portion of the statement, he wrote: "Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down," in his post. For related coverage, see How CoinEx Became a Gateway for Iran's Crypto Economy. FOUNDER STATEMENT Dear CoinEx Community, Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down. First, what matters most: your assets are safe. CoinEx’s reserve ratio exceeds 100%, and every user asset is fully backed and available for withdrawal. Withdrawals… For related coverage, see Bubblemaps Sets a New Industry Standard for Catching Rug Pulls Before They Happen. — Haipo Yang (@yhaiyang) September 15, 2026 Source: @yhaiyang on X CoinEx shutdown reported after nine years CoinEx, the exchange named in the announcement, has operated since 2017 according to its official homepage, supporting the approximate nine-year history rather than an exact anniversary. The company detailed its wind-down as a planned process, not a closure that has already completed. For related coverage, see SPAC Circle Acquisition Reportedly Files for $150M IPO. This is a planned, orderly wind-down. CoinEx has previously signaled it would begin shutting down its platform, and the founder's post frames the current step as a staged process rather than an abrupt halt. Shrinking revenue and rising compliance costs are the stated reasons CryptoSlate reported that CoinEx will end spot trading on September 29, 2026, and close withdrawals on December 22, 2026, and that new registrations have stopped while futures markets have entered reduce-only mode. According to unconfirmed reports attributed to CoinEx and its founder, shrinking revenue and rising compliance costs made the business no longer viable. The complete underlying statement and any supporting financial figures were not retrieved, so these remain reasons cited rather than independently verified findings. Do not read shrinking revenue as insolvency. On compliance, the same reporting places the decision against rising regulatory obligations. No official regulatory document was retrieved, and the 2026 wind-down should not be characterized as a regulator-ordered closure. The move mirrors other projects that have opted to wind down after turnaround plans failed to lift revenue. Token context separate from exchange reserves CoinEx Token (CET) traded at about $0.005, with a market capitalization near $12.19 million in a September 15, 2026 snapshot. Token market capitalization does not measure CoinEx exchange reserves or customer asset backing. CET market capitalization $12.19 million Source: CoinGecko; supplied research snapshot observed September 15, 2026 (UTC), rounded in USD.