Cryptocurrency Exchange AscendEX Announces Cessation of Operations, Attributed to Market and MiCA Impact

Cryptocurrency exchange AscendEX announced that it will cease operations, attributing the decision to the current market environment and the impact of the EU's MiCA regulations.

On-chain investigator ZachXBT pointed out that its public hot wallet lacks sufficient liquid assets to cover millions of dollars in user withdrawal demands.

Source: Public Information