AscendEX layoffs — Jul 10, 2026

AscendEX to Lay Off 100% of Workforce After July 27 Shutdown Announcement

AscendEX, a centralized cryptocurrency exchange, will lay off its entire workforce as it shuts down platform operations. The company announced the workforce reduction on July 27, 2026, but did not disclose the number of affected jobs.

The exchange permanently halted trading, deposits, staking and swap services effective July 1, 2026. Remaining withdrawals are subject to mandatory manual review, with no guaranteed timeline for processing or final payout amount, according to the shutdown information cited by Coinpedia Fintech News.

AscendEX attributed the closure to the full enforcement of the European Union’s Markets in Crypto-Assets Regulation, known as MiCA, and the failure of a strategic liquidity transaction. The company said these developments left it unable to continue normal operations. The exchange had operated since 2018.

The shutdown leaves AscendEX without a stated path to resume trading or other platform services. Coinpedia also reported that on-chain observations had raised concerns about reduced balances in public wallets holding assets including Ether, Solana and Tether’s USDT before the closure. The exchange previously suffered a $78 million hack in December 2021. Users with pending withdrawals may continue to face uncertainty while manual reviews are conducted.

Sources: Coinpedia Fintech News