Woofun AI reports that crypto exchange AscendEx will cease operations effective July 1, 2026, citing the inability to secure an EU MiCA license and the collapse of a strategic transaction due to counterparty default. On-chain data indicates AscendEx addresses currently hold approximately $13.5 million in assets, predominantly in UNITE and native token ASD, with minimal large-cap reserves. This follows a sudden $240 million reserve decline on June 20 and warnings from investigator ZachXBT regarding unprocessed withdrawals while deposits remained active.