AscendEX crypto exchange shuts down, no assurance on user payouts
The Block·
60-second summary
AscendEx's crypto exchange has shut down operations effective July 1, citing regulatory, financial, and operational challenges. The exchange announced this on July 6, providing no assurance on user payouts. Approximately 300,000 users are affected by this shutdown, sparking concerns about asset safety and potential losses. The crypto market is now on high alert for further exchange collapses.
AscendEx announced on July 6 that its platform ceased operations effective July 1, citing regulatory, financial, and operational challenges.