Coinbase, a major cryptocurrency exchange, has surprised many by announcing that it will temporarily stop trading for six specific cryptocurrencies starting from September 6, 2023, at 9 AM PT.
These cryptocurrencies include BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX).
This decision is significant as these cryptocurrencies will lose access to important services on Coinbase, like Simple and Advanced Trade features, as well as Coinbase Pro, Coinbase Exchange, and Coinbase Prime platforms.
Coinbase stated that the trading suspension for these cryptocurrencies will begin on September 7, giving people about two weeks to adjust. This news quickly gained attention on social media platforms, gathering thousands of views and likes on Twitter in a short span.
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), & Voyager (VGX) on September 6, 2023, around 9AM PT.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) August 23, 2023
Coinbase’s Listing Criteria
Coinbase made this decision to maintain high-quality standards for the cryptocurrencies it lists. After carefully reviewing the assets, the exchange found that these six didn’t meet their strict criteria. This trading suspension ensures that only assets meeting the platform’s high standards will be available for trading.
When this news spread, the prices of the affected assets went up and down. BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Ooki (OOKI), Voyager (VGX), and Multichain (MULTI) saw their prices drop by 5.1%, 24%, 16%, 0.5%, 6%, and 0.7% respectively, after the announcement.
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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