CoinEx is closing its doors, and its founder Haipo Yang announced that the exchange will begin an orderly wind-down, with the platform formally shutting down on December 22, 2026. It is exactly nine years to the day after it launched in 2017.
A prolonged crypto market downturn, significant contraction in trading volume and liquidity, and continuously rising compliance costs across major jurisdictions have pushed operational risk beyond what Yang considers acceptable.
User Assets Are Safe, and the Timeline Is Clear
CoinEx maintains a reserve ratio above 100%. In addition, every user asset is fully backed and available for withdrawal starting today. Withdrawals remain open until December 22, 2026, giving users over three months to move their funds.
The wind-down follows a structured timeline. From September 15, futures markets enter reduce-only mode, new registrations stop, and referral rewards cease. From September 22, all non-spot services end; futures, staking, lending, margin trading, on-chain services, and strategic trading all close.
Moreover, from September 29, spot trading ends and non-USDT assets begin to be processed. December 22 is the final withdrawal deadline.
Users who want to withdraw assets in their original form must act before September 29. After that date, the platform will sell remaining non-USDT assets and convert them to USDT at market rates. Any USDT left unclaimed after December 22 moves into independent custody, with a claim deadline of August 22, 2028.
On CET, and Why Yang Chose Not to Sell
Every CET holder will be bought out at the token’s original listing price of 0.005 USDT per token, with no cap on quantity. Yang acknowledged directly that CET did not deliver the long-term value it once promised, and described the buyback as the least CoinEx could do to close that chapter responsibly.
He also addressed the question of a sale. He considered it seriously and decided against it. Users trusted CoinEx because they trusted the platform and, in many cases, trusted him personally. Handing that trust to a new owner did not feel like the right ending, and a clean exit did.
On the other hand, CoinEx have been through multiple bull and bear cycles, watched countless projects collapse, and seen many peers leave the market without dignity. It is not leaving as one of the industry’s leaders, Yang admitted that plainly.
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