Leading US Crypto Exchange Coinbase Suspending Trading for Multichain (MULTI) and Five Other Altcoins
Coinbase, a prominent US-based cryptocurrency exchange, has announced that it will suspend trading for the crypto asset of the bridging platform Multichain (MULTI) starting from September 6th. This decision comes after Multichain advised its users to stop using its services.
Key points:
– Multichain faced technical issues earlier this year when its team members couldn’t locate the project’s CEO, Zhao Jun.
– Last month, bad actors stole $126 million worth of assets from Multichain’s Fantom (FTM) bridge, leading the developers to suspend the project.
– Coinbase regularly reviews cryptocurrencies on its platform and has decided to suspend support for five other assets: BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Ooki (OOKI), and Voyager (VGX).
Coinbase’s move is aimed at ensuring compliance with its listing standards. Trading for the mentioned assets will be suspended on Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.
Hot Take
Coinbase’s decision to suspend trading for Multichain and other altcoins indicates its commitment to maintaining a secure and compliant trading environment for its users. By regularly reviewing listed cryptocurrencies, the exchange can safeguard against potential risks and protect the interests of its customers.
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