According to Protos, crypto exchange AscendEx halted operations on July 1, 2026, citing failure to obtain an EU MiCA license and a failed strategic transaction with an undisclosed counterparty. The exchange announced the closure in a notice on July 6. Withdrawals have been suspended and will undergo manual review, with the exchange warning of potential delays or inability to process requests.
On-chain data shows AscendEx's labeled addresses hold only approximately 13.5 million USD in crypto assets, with over 12 million USD concentrated in UNITE and its native ASD token. Major reserve assets are severely depleted, with holdings reportedly dropping over 240 million USD on June 20.