CoinScoopCoinEx to shut down after nine years of operations
Crypto exchange CoinEx announced it is winding down operations after nine years, citing declining revenue, rising compliance costs, and a lack of scale. The platform will cease spot trading on September 29 and close all withdrawals by December 22. Founder Haipo Yang stated that the exchange could no longer justify the security and compliance risks relative to its revenue. This follows a 2023 settlement with the New York Attorney General, which forced the exchange to exit the U.S. market.
Summaries are written by AI from the original article. Not investment advice.