(Sept 15): Hong Kong-based crypto exchange CoinEx said on Tuesday that it has decided to cease operations, as a prolonged downturn in digital assets shakes up the sector and squeezes out smaller players.

Bitcoin, the world’s largest cryptocurrency, has languished near two-year lows of around US$60,000 (RM244,350) for months, after slumping roughly 50% from its October 2025 peak of nearly US$130,000.

A recent rebound triggered by fears of dollar debasement also proved to be fleeting amid uncertainties over a potential Federal Reserve rate hike and the US Clarity Act, a key crypto bill.

Prolonged weakness in the cryptocurrency market, a contraction in overall trading volume and liquidity, and continuously rising regulatory requirements…