[CoinEx announces shutdown by end of year, with spot trading stopping and CET buybacks starting September 29]
The long-established exchange CoinEx has officially announced it will cease operations and enter an orderly wind-down process. The withdrawal window will close on December 22. The official reasons include a long period of weak market conditions, a significant contraction in industry trading volume and liquidity, and continuously stricter regulatory requirements across various jurisdictions that have caused compliance costs to exceed reasonable levels. The platform emphasizes that its current asset reserve ratio is above 100%, and users’ assets can be fully redeemed.
The wind-down timeline is clearly defined: starting September 15, it will stop registering new users, and derivatives trading will enter a reduce-only mode; starting September 22, it will stop all non-spot businesses and on-chain deposits (CET deposits will continue until September 29); starting September 29, spot trading will be fully suspended. Remaining CET will be automatically repurchased at 0.005 USDT, while the CoinEx Smart Chain and OneSwap will also suspend operations in parallel.
This event once again highlights the liquidity exhaustion and compliance cost pressure faced by smaller and mid-sized exchanges. For users holding CET, the automatic buyback mechanism provides a clear exit route, but they need to pay attention to whether the buyback execution is smooth. More broadly, CoinEx’s exit may further fragment trading liquidity for certain niche tokens. Market participants should monitor changes in the bid-ask spread of relevant tokens and the status of on-chain asset transfers. Key follow-up items to watch include the actual efficiency of the withdrawal process and the price stability after the remaining CET is repurchased.
The long-established exchange CoinEx has officially announced it will cease operations and enter an orderly wind-down process. The withdrawal window will close on December 22. The official reasons include a long period of weak market conditions, a significant contraction in industry trading volume and liquidity, and continuously stricter regulatory requirements across various jurisdictions that have caused compliance costs to exceed reasonable levels. The platform emphasizes that its current asset reserve ratio is above 100%, and users’ assets can be fully redeemed.
The wind-down timeline is clearly defined: starting September 15, it will stop registering new users, and derivatives trading will enter a reduce-only mode; starting September 22, it will stop all non-spot businesses and on-chain deposits (CET deposits will continue until September 29); starting September 29, spot trading will be fully suspended. Remaining CET will be automatically repurchased at 0.005 USDT, while the CoinEx Smart Chain and OneSwap will also suspend operations in parallel.
This event once again highlights the liquidity exhaustion and compliance cost pressure faced by smaller and mid-sized exchanges. For users holding CET, the automatic buyback mechanism provides a clear exit route, but they need to pay attention to whether the buyback execution is smooth. More broadly, CoinEx’s exit may further fragment trading liquidity for certain niche tokens. Market participants should monitor changes in the bid-ask spread of relevant tokens and the status of on-chain asset transfers. Key follow-up items to watch include the actual efficiency of the withdrawal process and the price stability after the remaining CET is repurchased.