CoinEx Calls Time After Nearly Nine Years as Crypto Market Pressure Mounts

CoinEx joins BitMart and BitMEX among established exchanges closing this year. CoinEx is preparing to shut down its platform after nearly nine years as the weakness across the crypto market has made operations increasingly difficult. The exchange said the broader industry has seen a significant contraction in trading volume and liquidity. It also cited rising regulatory requirements across major jurisdictions alongside higher compliance costs and operational uncertainties that it considers beyond reasonable boundaries. Market Pressure Mounts The wind-down process begins on September 15, 2026, and will follow a gradual schedule. Users can still withdraw funds from the platform until December 22, 2026. CoinEx’s decision also highlights the pressure facing established exchanges as the crypto industry moves through further maturity and consolidation. BitMart and BitMEX also announced closures in July after operating since 2017 and 2014, respectively. The pressure was spread across more corners of the crypto industry this year. DEX aggregator Odos wound down operations on July 30. Dango stopped running its L1 blockchain on August 13. Storj Labs filed for Chapter 11 bankruptcy protection...