CoinEx to Cease Operations on December 22, 2026, Claims Over 100% Reserves

Haipo Yang, founder of CoinEx, announced the definitive cessation of operations for the platform by December 22, 2026, citing increasingly difficult security and regulatory compliance risks. Yang ruled out the sale of the company to avoid transferring user trust to a third party, stating that customers deposited their funds based on their personal trust. CoinEx claims that its reserve ratio exceeds 100%, ensuring that customer balances are fully backed. The withdrawal window will remain open until the formal closure, although some withdrawals may experience delays. Yang also apologized to holders of the native token (CET) for not creating the expected long-term value, confirming the total buyback of these assets at the initial price of 0.005 USDT with no quantity limit. The executive emphasized the importance of ensuring the return of capital and providing a dignified farewell to employees.

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