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Coinbase announced it will block trading activities in New York for FLOKI, TURBO, and GIGA.
This change will take effect on April 14, 2025, at 2 PM ET. Coinbase cited a routine review, but speculation surrounds potential legal reasons.
Why Is Coinbase Removing These Tokens in NY?
The crypto market didn’t panic over the news. Instead, after Coinbase’s announcement, prices for these tokens went up. According to Coinbase, the decision comes as part of its standard review process:
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for FLOKI (FLOKI), Turbo (TURBO), and Gigachad (GIGA) in New York only on April 14, 2025, on or around 2 PM ET.
— Coinbase Assets
(@CoinbaseAssets) March 12, 2025
They provided only that announcement, while specialized personnel predicted possible legal repercussions. Ariel Givener relates the current New York legal dispute to this situation. As a company, they have not released an official communication about this matter.
The Timing Is Interesting
Coinbase introduced new tokens at a time that supports its ongoing project expansion. In November 2024, FLOKI became listed on Coinbase, leading to a five-month price high. The Coinbase integration of TURBO and GIGA in December 2024 led to respective price rises of 15% and 37% in the market. The “Coinbase Effect” boosts token prices upon listing but causes them to cool down later.
Assets added to the roadmap today: Gigachad (GIGA) and Turbo (TURBO)https://t.co/rRB9d3hSr2
— Coinbase Assets
Memecoins Are Changing the Crypto Game
Memecoins, once seen as fun projects, have become serious business. The Solana-based platform Pump.fun generated 8.5 million meme tokens after starting operations in January 2024. The SEC says memecoins aren’t securities as they lack passive income or ownership. This means they fall outside the SEC’s regulatory control—at least for now.
The SEC declares meme coins are not considered securities.
SEC claims meme coins “do not involve the offer and sale of securities under the federal securities laws.” pic.twitter.com/W011EB6zfe
— Cointelegraph (@Cointelegraph) February 27, 2025
What’s Next?
All New York Coinbase users will no longer have access to the tokens, but other locations can continue their usual trading. According to MEXC COO Tracy Jin, memecoins will upgrade the DeFi space, yet investors need to study these tokens and prepare for unpredictable market conditions.
I believe memecoins actually cleared the way for fundamentals to take center stage in crypto.
Over the last year, speculative capital had a clear destination: memecoins—highly liquid, retail-driven, and fueled by viral narratives. But this had an unintended effect: it pushed…
— maria
(@MariaShen) March 13, 2025
Conclusion
Coinbase made a recent move that would reshape the crypto market, proving it is constantly evolving. The rising level of public interest in cryptocurrencies leads the world to witness their increasing popularity. The market retains its high level of appeal despite a suspension that has undisclosed reasons for occurrence.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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