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 $60,000 for months, after slumping roughly 50 per cent from its October 2025 peak of nearly $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 U.S. 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 across…