Svmuu News: Cryptocurrency exchange AscendEx has announced that it will cease operations effective July 1, 2026. In an announcement on July 6, AscendEx stated that the reasons for the shutdown include failing to obtain an EU MiCA license, as well as “a strategic transaction that had been agreed upon falling through due to the counterparty’s failure to fulfill its obligations.”
On-chain data shows that AscendEx’s designated addresses currently hold approximately $13.5 million in crypto assets, of which more than $12 million consists of UNITE and the platform token ASD, while reserves of major high-market-cap tokens are relatively low. Previously, on June 20, AscendEx’s reserve assets had suddenly decreased by more than $240 million.
Additionally, on-chain investigator ZachXBT had previously warned users to be aware of withdrawal issues at AscendEx. On July 2, he noted that withdrawal requests remained unprocessed, while deposit functions were still operational, and advised users to report the situation to law enforcement agencies in their respective countries. (Protos)