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CoinEx announced that due to the sluggish cryptocurrency market, shrinking trading volume and liquidity, regulatory requirements, and rising compliance costs, it has decided to cease operations and enter the shutdown process starting from September 15th. The asset reserve ratio of CoinEx platform exceeds 100%. Non spot business will cease on September 22, spot trading will cease on September 29, and CoinEx Smart Chain (CSC) and OneSwap will cease operations on the same day; The withdrawal service will continue until December 22nd, when CoinEx trading platform will officially cease operations. CoinEx Wallet and CoinEx Vault are not affected by the shutdown and will continue to provide services.