Crypto exchange CoinEx announced a gradual shutdown of its operations with final withdrawals closing on December 22, 2026. Spot trading will cease on September 29, 2026, when all assets other than USDT will be automatically converted to USDT. Users must withdraw their funds before December 22 or face monthly custody fees equivalent to 5% of the initial balance. CoinEx claims to maintain a reserve ratio above 100%. In this context, OKX, a regulated platform holding a MiCA license, is offering an 8% cashback capped at 3,500 euros for any USDT deposit converted to USDC, but this offer ends on October 8, 2026.
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