CoinEx Exchange Announces Closure After Nine Years of Operation

CoinEx, a cryptocurrency exchange founded in Hong Kong in late 2017, has announced plans to wind down its operations after nearly a decade in the industry. According to the company, the decision comes amid persistent challenges in the crypto market, often referred to as a 'prolonged crypto winter,' as well as increased expenses related to regulatory compliance. CoinEx advised customers to withdraw their assets by December, providing a transition window before its services go offline. The exchange's closure highlights ongoing volatility and regulatory pressures in the digital asset sector, which continue to impact both longstanding platforms and new entrants alike.