CoinEx to Shut Down After Nine Years, Begins Wind-Down Sept 15

An orderly, solvent shutdown is a rare outcome in an industry where exits are usually forced by insolvency, and CoinEx's disclosed reserve ratios above 100% suggest the wind-down is a strategic retreat rather than a collapse. The cited drivers — thinning volume, weak liquidity, rising compliance costs — point to structural pressure on smaller venues rather than a single firm's failure. The real test is the wind-down itself: whether reserves stay intact through the withdrawal deadline, and whether this becomes a template for other mid-tier exchanges facing the same economics.