Coinbase to Cut Six Major Cryptocurrencies from Platform


Coinbase Assets has recently notified its users that it will be temporarily halting trading for six specific cryptocurrencies, effective September 6, 2023, at 9 AM PT. The assets in question are BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). This move will affect the access of these assets to Coinbase services, such as the Simple and Advanced Trade capabilities, Coinbase Pro, Coinbase Exchange, and Coinbase Prime platforms.

Notably, the news had thousands of views and likes on Twitter and the prices of the affected assets fell shortly after. Ooki (OOKI), Multichain (MULTI), DerivaDAO (DDX), Jupiter (JUP), Voyager (VGX), and BarnBridge (BOND) decreased by 0.5%, 0.7%, 24%, 16%, and 6%, and 5% respectively.

Coinbase’s decision was driven by its commitment to maintain the highest standards of quality in its listed assets. The exchange revealed that the six assets failed to meet its strict listing requirements after a thorough investigation. For example, Multichain has faced severe setbacks, including the arrest of its CEO and the closure of its bridge due to significant Bitcoin losses of over $109 million.

Coinbase has given users around two weeks to adjust to the change before the trading for these assets is suspended on September 7.

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