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BTC 
ETH 币安创始人CZ评CoinEx关停：行业成熟度的体现
币安（Binance）创始人赵长鹏（Changpeng Zhao，简称CZ）对CoinEx突然宣布停止运营一事发表评论。他将这一事件视为加密行业成熟的标志，指出与早期交易所倒闭导致用户资金无法取回的黑历史相比，如今的行业环境已大有不同。
CZ在X平台（原Twitter）上回应CoinEx的公告时表示，在当前的长期熊市阶段，近期交易所的关闭至少允许用户提取自己的资产。这与以往周期中臭名昭著的“冻结”模式形成了鲜明对比。他特别提到了“QuadrigaCX式”的悲剧，以此作为警示——2019年加拿大QuadrigaCX交易所因创始人去世而崩溃，导致约1.9亿美元的客户资金无法动用。
对CZ而言，关键的区别不在于交易所能否幸存，而在于其退出方式是否负责任。
CoinEx为何选择关停？
CoinEx阐述了其在经营九年后决定退出的多重因素：包括长期的加密货币市场低迷、全行业交易量和流动性萎缩，以及日益沉重的监管和合规负担，使得运营成本不断攀升。
The exchange said its shutdown process would be orderly. At present, futures trading has been restricted, and the phased closure of various services will last until late December. "Thank you to every user who has trusted and supported us over the past nine years, and thank you for being part of our journey," CoinEx wrote in the announcement.
Orderly exit rather than freezing funds
CoinEx emphasized that user assets are still fully protected and the reserve ratio exceeds 100%. Withdrawal channels will remain open for months, rather than being cut overnight. In addition, the exchange also announced a repurchase plan for its native tokens and custody arrangements for uncollected balances after the deadline.
CZ's comments highlight the broader transformation that centralized exchanges are undergoing. As small and medium-sized platforms struggle to survive under the dual pressure of shrinking transaction volumes and rising compliance costs, the way they exit is becoming as important as the reason for their exit. This orderly clearing process is different from the chaos of past collapses and may be gradually establishing a new standard for the industry.
