Coinbase to Suspend Trading of Six Cryptocurrencies
Coinbase, the leading US digital asset trading platform, has announced that it will suspend trading of six cryptocurrencies as part of its regular internal review. The delisted coins include BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). The suspension will take effect on September 6, 2023, across all tiers and platforms.
Key Points:
- Coinbase will delist BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX) as they do not meet the required listing standards.
- The suspension of trading will begin on September 6, 2023, and will affect all tiers and platforms of Coinbase.
- The delisting coincided with a significant decline in value for the six cryptocurrencies.
- Coinbase recently announced its acquisition of an equity stake in Circle Internet Financial and the dissolution of their jointly managed Centre Consortium.
- Adjustments have been made to Coinbase’s debt buyback program due to lower-than-anticipated demand.
Hot Take:
Coinbase’s decision to suspend trading of six cryptocurrencies reflects its commitment to maintaining high listing standards. The declining value of these coins further justifies the delisting. This move, combined with the recent acquisition and adjustments to the debt buyback program, showcases Coinbase’s adaptability and focus on ensuring the quality of its offerings. The cryptocurrency market is constantly evolving, and Coinbase’s actions demonstrate their proactive approach to staying ahead in the industry.
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