Key Takeaways:
CoinEx is winding down its exchange business after nearly a decade in the crypto industry, marking another high-profile exit during a period of tighter regulations and lower trading activity across the sector.
The exchange announced that it will gradually discontinue services starting September 15, with all operations ending on December 22, 2026.
— CoinEx Global (@coinexcom) September 15, 2026
According to the company, the decision followed a review of market conditions and operational challenges facing centralized exchanges.
CoinEx cited the long crypto winter, the overall market slowdown, shrinking liquidity, and rising regulatory hurdles in key jurisdictions as reasons. These contributed to unsustainable operational costs and regulatory uncertainty, the company said.
Different from the sharp exchange failures observed in the previous market cycles, CoinEx is taking a planned approach to wind down. The platform has said customer funds are backed by over 100%. Users will be able to withdraw at any time during the process of transition.
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The shutdown will be done in stages. On September 15, CoinEx stopped new user registrations and disabled referral reward distributions. Futures markets moved into reduce-only mode, with no new activity happening in the margin trading, loan, staking, earning products, and strategic trading services.
All non-spot products will be sold out on September 22nd. In addition, crypto deposit services will end, apart from CET deposits which will be available until September 29.
CoinEx will completely close all spot trading on 29th September. Additionally, the platform will end CoinEx Smart Chain (CSC) and OneSwap activities.
Lastly, the rollout plan includes an exchange’s native token, CET. CoinEx stated that it will purchase any CET units the users did not redeem before the token’s listing at 0.005 USDT per token. The buyback is unconditional, no quantity limit.
As blockchain congestion and network fees may rise as the end of the scheduled shutdown approaches, the company is promoting users to finish up withdrawals as early as possible.
CoinEx will officially terminate its operations and withdraw channels on December 22. Users that do not withdraw USDT in time will receive a disjointed custody platform transfer. After the end of the withdrawal period, CoinEx announced that a monthly custody fee of 5% of the initial balance will be charged.
Claims for assets held in custody can be submitted until August 22, 2028. CoinEx Wallet and CoinEx Vault will remain unaffected from exchange shutdown and operate separately.
The closure comes amid growing pressure on smaller and mid-sized crypto exchanges. Trading is increasingly focused on a handful of major platforms and regulatory standards are rising throughout the world, making it more difficult to run a competitive exchange business. CoinEx is an example of the many long-established exchanges reconsidering their role as the market for cryptocurrencies evolves so quickly.
Read More: Australia Shuts Down 96 Crypto ATMs After CryptoLink Faces AML Reporting Crackdown
The post CoinEx Announces Permanent Shutdown After 9 Years, Withdrawals End Dec. 22 appeared first on CryptoNinjas.
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Researchers at the Bank for International Settlements found that estimates of Bitcoin onchain transfer values can vary by as much as sixfold depending on how transactions are measured.The finding concerns onchain Bitcoin transfer values, rather than trading volume on crypto exchanges. The sixfold gap reflects differences between measurement methods, including how change outputs and other transfers back to the sender are treated.The discrepancy stems largely from Bitcoin’s transaction structure. When users spend Bitcoin, unspent funds are often returned to the sender as change, which can be counted as another output even though it does not represent funds being transferred to another party.Breakdown of blockchain records analyzed in the BIS study. Source: BIS“Metrics such as transaction volumes, market capitalisation and total value locked often suggest a degree of accuracy that is not supported by the nature of the underlying data,” the researchers wrote.The measurement problem also extends to Bitcoin’s market capitalization. The researchers found that the conventional measure has at times been as much as four times higher than realized capitalization, which values each coin at the price when it last moved.The study, based on 100 billion blockchain records across Bitcoin, Ethereum and Tron, found that similar measurement challenges extend across the broader crypto ecosystem.Related: Stablecoins not credible for payments at scale, BIS chief saysEthereum and stablecoins present additional challengesEthereum presented a separate measurement challenge because of the proliferation of smart contracts. Of roughly 67.5 million active contracts examined, about 54 million could not be categorized using the classifications in the study.Interpreting stablecoin activity presents another challenge, as the same asset can serve different purposes across blockchains. USDT on Ethereum was more closely linked to DeFi activity, while USDT on Tron was associated more with payment-like and store-of-value purposes.The differences were particularly stark in smart contract holdings. The share of USDT held by smart contracts on Ethereum exceeded 20% in 2022, compared with around 1% on Tron. Because of the different use cases, the researchers said aggregating USDT activity across blockchains can conflate different types of economic activity and obscure how stablecoins are actually being used.The BIS researchers concluded that onchain indicators should be treated as “noisy approximations rather than direct measures of economic activity.”Visa filters stablecoin data to reflect economic activitySome analytics providers already distinguish between raw blockchain activity and adjusted measures intended to better represent economic activity.Visa’s Onchain Analytics dashboard, powered by data from Allium Labs, displays both total and adjusted stablecoin transaction volumes. Visa says its adjusted methodology aims to remove potential distortions from activity including high-frequency trading, bots, bridge routing and internal exchange operations.The dashboard currently shows $6.4 trillion in total stablecoin transaction volume across the networks it tracks over the past 30 days, compared with $313.1 billion in adjusted volume.Stablecoin transaction volumes. Source: Visa Onchain Analytics
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