From Yahoo Finance · · 1m 20s
CoinEx shuts down after nine years
A Hong Kong exchange calls it quits, and it is not the only one heading for the exit.
In brief
A Hong Kong exchange calls it quits, and it is not the only one heading for the exit. When trading volume dries up and compliance costs stay high, mid-tier crypto exchanges stop being viable businesses. Originally reported by Yahoo Finance.
CoinEx is closing
The Hong Kong-based crypto exchange is shutting down after nine years of operation. It will go dark exactly nine years to the day after it launched.
Too hard to run safely
The company blamed an operating environment it called increasingly difficult, pointing at the cost of staying secure and compliant.
“The security and compliance risks of running a crypto exchange have become increasingly difficult to contain”
Users have until Dec 22
Customers get a withdrawal window that closes on December 22 this year. After that the exchange stops operating.
Volume had already thinned
CoinEx handled $70 million in 24-hour trading volume on Sept. 14, per CoinGecko. That trails Asian rivals like CoinW and Gate by a wide margin.
Bitmart and BitMEX went first
Both exchanges announced closures in July, citing much the same problems. CoinEx makes three veteran venues gone in three months.
A year into crypto winter
Retail spot trading has slumped along with prices. Bitcoin sits at $76,900 on Sept. 15, down from its $126,000 record in October 2025.
The takeaway
When trading volume dries up and compliance costs stay high, mid-tier crypto exchanges stop being viable businesses.
