CoinEx, a Hong Kong-based exchange, will cease operations on December 22 after nine years, citing prolonged market downturn, shrinking trading volumes, and excessive compliance costs. The platform already exited the United States in 2023 under a settlement with the New York Attorney General, returning over $1.1 million to state investors. The exchange will repurchase its CoinEx Token (CET) at 0.005 USDT each, representing a 7% premium to its current price. Users have until December 22 to withdraw their funds, after which monthly fees of 5% will apply to unclaimed USDT balances.
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