NewsMeter
Cryptocurrency exchange CoinEx is ceasing operations after nine years, citing an increasingly difficult operating environment.
The Hong Kong-based company stated that security and compliance risks have become hard to contain. Users have until December 22 to withdraw their funds.
The exchange will shut down nine years to the day after it launched. CoinEx is privately held and its stock does not trade on a public exchange.
CoinGecko data shows CoinEx's 24-hour trading volume on September 14 stood at $70 million U.S., a figure much lower than competitors like CoinW and Gate. on September 15, down from an all-time high of $126,000 U.S.
Keep reading