TechFlow reports that on July 8, centralized exchange AscendEX announced that, affected by regulatory developments such as MiCA as well as market, financial, and operational factors, the platform ceased operations effective July 1, 2026. Users can no longer open accounts, deposit, trade, exchange, stake, lend, or participate in activities; accounts are retained only for limited exit purposes. As of July 6, all withdrawal requests require manual review, automatic withdrawals have been suspended, withdrawals may be delayed, require additional information, or cannot be processed, and the platform currently cannot guarantee processing time or amount.
ZachXBT commented on this, stating that the AscendEX announcement admitted withdrawals "may or may not be processed," and its public hot wallet still lacks sufficient liquid assets to handle its verified multiple seven-figure user withdrawal requests. Previously, ZachXBT stated that there were multiple reports of delayed or unprocessed withdrawals on AscendEX, and while some user withdrawals remained unprocessed, the deposit function remained open.
