Share this article
Yunbi Bitcoin Exchange Latest to Close in China Crackdown
China-based cryptocurrency exchange Yunbi has announced the closure of its trading operations in the midst of a wider crackdown within the country.
Updated Dec 11, 2022, 2:04 p.m. Published Sep 15, 2017, 1:30 p.m.
Another China-based cryptocurrency exchange, Yunbi, has announced the closure of its trading operations in the midst of a wider crackdown within the country.
A notice on the firm's websitehttps://yunbi.zendesk.com/hc/zh-cn/articles/115000152622-%E4%BA%91%E5%B8%81%E7%BD%91%E5%85%B3%E9%97%AD%E4%BA%A4%E6%98%93%E4%B8%9A%E5%8A%A1%E7%9A%84%E5%85%AC%E5%91%8A follows similar announcements made by exchanges BTCC and ViaBTC in the last two days, citing a recent regulatory statement banning initial coin offerings (ICOs) as the reason for its closure.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
At the time of the ICO statement on September 5, Yunbi stated it would comply with the ban by delisting all ICO tokens from its platform – a response which was evidently not sufficient to protect the exchange from further restrictions that appear to be coming into force.
Reportedly, all China's bitcoin and cryptocurrency exchanges have received orders that they will need to voluntarily shut down by the end of today, September 15.
The Huobi and OKCoin exchanges are expected to announce plans to shut down within hours.
Closed sign image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
XRP's 9% surge leads crypto as bitcoin climbs to 6-week high near $95,000
Bakkt, Figure and Hut 8 were among numerous crypto-related stocks posting double-digit percentage gains.
What to know:
- Bitcoin jumped more than 3% on Monday to its highest level since mid-November, nearing the key $95,000 mark.
- XRP led the crypto rally with a 9% gain after breaking resistance on strong volume.
- It's a good start to 2026, but bitcoin isn't out of the woods yet, said one analyst.
Top Stories
