Publicly listed crypto exchange decided to suspend support for 6 crypto assets by the end of this month.
Coinbase is a US-based popular crypto exchange. The services of this exchange are available in several countries. In the US, Coinbase is known as a highly regulated crypto company, as the company follows all rules to remain under the regulation system. In the past, the Coinbase’ intelligence team also worked with government agencies to catch bad actors in the crypto space.
Recently Coinbase exchange announced that it will terminate its support for Rally (RLY), DFI Money (YFII), Mirror (MIR), OMG Network (OMG), Loom Network (LOOM), and Augur (REP).
From 29 March 2023, Coinbase will start to terminate support for these crypto-assets but still, Coinbase customers will be able to withdraw their funds from the Coinbase account anytime.
This exchange failed to explain why planned to delist these crypto assets but stated that all these crypto assets are not meeting the listing standard of the exchange.
As per Coinbase listing standard, its team always conducts legal, compliance, and technical security reviews while listing new Crypto assets, and also regularly reviews listed altcoins to ensure they continue to meet its listing standards.
Just a few days ago, we reported that Coinbase CEO Brian Armstrong said that he wants to make Coinbase able to survive under all situations normally. Armstrong said that Coinbase aims to generate revenue on behalf of its subscription & services because trade fee revenue is not a stable earning for the exchange, citing high volatility in the price of crypto assets.
Coinbase exchange trades on the Nasdaq exchange under the index COIN. The current trade price of COIN is 20.35% high over the last 5 days of trade price.