CoinEx Founder: Once Considered Selling CoinEx, But Ultimately Believed "A Clean Ending Is the Right Ending"
TechFlow reported that on September 15, CoinEx founder Yang Haipo announced that CoinEx officially launched on December 22, 2017, and will officially close on December 22, 2026, nine years later. He stated that nine years is a long time in the crypto industry. CoinEx has experienced multiple bull and bear cycles alongside its users, witnessed the rise and fall of numerous projects, and seen many peers leave the market in various ways.
Yang Haipo noted that after reflection, he has come to accept a fact: CoinEx failed to become an industry-leading exchange, and the security and compliance risks of operating a crypto exchange have become increasingly difficult to control; revenue may decline, but responsibility does not diminish, and assuming unlimited risk under limited revenue is no longer a rational choice. He added that surviving for nine years in a highly volatile and demanding industry, weathering various storms while still managing to exit completely and gracefully, means “perhaps we didn’t win the race, but we will cross the finish line with dignity.”
Regarding CET, CoinEx will conduct a buyback at its initial listing price of 0.005 USDT per token, with no quantity cap. Yang Haipo stated that CET represents holders' trust in CoinEx, as well as many individuals' trust in him personally; he apologized for failing to deliver the long-term value originally anticipated for CET, and noted that it is now at least necessary to close this chapter in a responsible manner.
Yang Haipo also mentioned that he seriously considered selling CoinEx but ultimately decided against it, because users entrusted their assets to CoinEx based on trust in both the platform and him personally; he believes handing the platform and that trust over to new owners is not the right way to conclude this journey, stating that “a clean exit is the correct exit.” CoinEx will ensure users can fully withdraw their assets, provide employees with a dignified farewell, and offer clear, responsible solutions for CET holders.
