AscendEX Shuts Down After MiCA Miss and Warns some Withdrawals May Not Be Processed - Invest In Crypto News

AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed - Invest In Crypto News

AscendEX shut down on July 1, leaving some customers unsure whether they will recover their funds. The exchange said in a July 6 notice that it does not hold authorization under the European Union’s Markets in Crypto-Assets framework. It also cited financial and operational pressures, including a failed strategic transaction expected to provide liquidity. Customers can no longer use AscendEX to open accounts, deposit funds, trade, swap, stake or…

AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed

AscendEX shut down on July 1, leaving some customers unsure whether they will recover their funds. The exchange said in a July 6 notice that it does not hold authorization under the European Union's Markets in Crypto-Assets framework. It also cited financial and operational pressures, including a failed strategic transaction expected to provide liquidity. Customers can no longer use AscendEX to open accounts, deposit funds, trade, swap, stake or…

AscendEX Shutdown Leaves Traders Scrambling as Liquidity Crisis Deepens

A crypto exchange that once counted itself among the more reliable mid-tier trading platforms has now become a cautionary tale, and the fallout is still unfolding. AscendEX went dark on July 1, and it took nearly a week before the company said anything meaningful to the people whose money was sitting on its books. When the statement finally came on July 6, it was not the reassuring kind. AscendEX admitted, in plain terms, that it could not promi…

ZachXBT Sounds Alarm Over AscendEX as Users Struggle to Withdraw Funds

AscendEX said it stopped operating on July 1 after the MiCA transition period ended. Following its exit, ZachXBT warned the public about the platform’s liquidity, alleging that it wouldn’t be able to process customer withdrawals. ZachXBT Raises Fresh Liquidity Concerns In its announcement, the crypto exchange said that it was winding down due to challenging market conditions and the European Union’s Markets in Crypto-Assets (MiCA) regulation, wh…

AscendEX Collapses Under MiCA Pressure and Drained Wallets

Cryptocurrency exchange AscendEX ceased operations on July 1 after failing to secure authorization under the European Union’s Markets in Crypto-Assets regulation. The platform warned users that full recovery of deposited assets is not guaranteed, citing both regulatory pressure and financial difficulties that left the exchange unable to continue operating. A Failed Liquidity Deal Accelerated the Shutdown AscendEX, formerly known as BitMax, launc…