CoinEx Shutdown Sets CET Buyback and Dec. 22 Deadline
CoinEx will shut down its crypto exchange in an orderly liquidation after citing weak market conditions, lower trading volumes and liquidity, tighter regulation, and rising compliance costs. The CoinEx shutdown began on September 15, 2026, when new-user registrations and referral rewards ended and futures trading entered reduce-only mode. All non-spot services will close on September 22, followed by spot trading and CoinEx Smart Chain and OneSwap operations on September 29. CoinEx will repurchase CET at 0.005 USDT per token. Withdrawals will remain open until December 22, when the exchange will formally close. CoinEx says its reserve ratio exceeds 100% and user assets are fully backed. Unclaimed USDT will be placed in separate custody and charged a monthly fee equal to 5% of the original balance. Traders should close positions, withdraw funds before the deadline, and monitor potential CET selling pressure, liquidity risks, and counterparty exposure.
Bearish
The immediate price impact is bearish for CET. The fixed repurchase price of 0.005 USDT may anchor market expectations and encourage holders to sell before trading services end. The shutdown also removes exchange utility and can reduce liquidity, increasing volatility and slippage. In the short term, forced position closures, withdrawals, and risk reduction by traders may add selling pressure. Over the longer term, CET could face limited demand because CoinEx and related services are ending, although the buyback and the reported reserve ratio above 100% may reduce panic and support orderly withdrawals. The effects on USDT should be limited because it is being used as the withdrawal and repurchase currency rather than facing a fundamental change in its market role.