AscendEx Announces Cessation of Operations, User Withdrawals Face Uncertainty

CoinFeed July 9 news, according to Protos report, crypto exchange AscendEx announced that it will cease operations from July 1, 2026. In the announcement on July 6, AscendEx stated the reason for closure was failure to obtain an EU MiCA license, and also mentioned that 'a consensus strategic deal fell through due to counterparty non-performance'. On-chain data shows that AscendEx marked addresses hold only about $13.5 million in crypto assets, of which over $12 million are UNITE and the platform's own ASD tokens, with a serious lack of mainstream large-cap token reserves. On June 20, its reserves suddenly dropped by over $240 million. ZachXBT had warned users about withdrawal issues at the end of June, and on July 2 said that withdrawals were still unprocessed while deposit functions were normal, suggesting users report to their local law enforcement agencies.