Crypto exchange CoinEx is shutting down after nine years in the game. The team says the decision comes as crypto market conditions have tightened: trading volumes and liquidity have dropped off, while regulatory and compliance costs have soared past what makes sense for the business. Users can still pull their funds out until December 22.

Why CoinEx Is Exiting the Market

According to CoinEx, the current operating environment just isn’t sustainable anymore. Trading activity and liquidity have tanked, and the costs of keeping up with regulators and compliance have ballooned. Put together, that’s pushed things past the breaking point for keeping the exchange running.

What This Means for Users

The platform is keeping withdrawals open through December 22. This window gives users time to wrap up their business and move their funds out before CoinEx winds down for good.