CoinEx Crypto Exchange Shuts Down Citing Market Winter, Binance Founder CZ Reacts

CoinEx is winding down operations after nearly nine years, citing a prolonged crypto slump, reduced trading liquidity, and rising compliance costs. The exchange confirmed that user funds remain fully backed and withdrawals will be supported until December. Binance founder Changpeng “CZ” Zhao noted that while business closures have occurred this cycle, they have at least allowed users to withdraw their assets.