Coinbase has decided to delist five tokens, namely CRPT, MXC, QSP, REN, and TONE. These tokens do not meet Coinbase’s listing standards. Collectively, they hold a market value of $60 million.
Coinbase wants to assure investors that, even though these tokens are being delisted, their funds are still secure and can be withdrawn.
Coinbase To Delisting Five Cryptos
Coinbase, the largest centralized crypto trading platform in the United States, is taking a major step that may affect several assets on its exchange. They’ve announced their intention to remove five cryptocurrencies from their trading platform. This decision was conveyed through a recent statement on the X platform, which was previously known as Twitter.
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), TE-FOOD (TONE) on November 3, 2023 at or around 2 PM ET.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) October 20, 2023
Coinbase, a major U.S.-based cryptocurrency exchange, is set to remove five cryptocurrencies from its platform due to their failure to meet the exchange’s listing standards. The affected tokens include Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), and TE-FOOD (TONE). These tokens have a combined market valuation of approximately $60.8 million.
The removal of these cryptocurrencies is scheduled to take effect on November 3, 2023, giving users a two-week period to make any necessary adjustments to their holdings. Coinbase has assured its users that they won’t lose their investments and can withdraw these cryptocurrencies at any time.
Furthermore, Coinbase has specified the platforms where these tokens will no longer be supported, which includes Coinbase.com (Simple and Advanced Trade), Coinbase Pro, Coinbase Exchange, and Coinbase Prime.
Leading up to the delisting date, Coinbase has placed the order books of four of these assets in “limit-only” mode, allowing users to place and cancel limit orders during this period.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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