Coinbase, one of the largest cryptocurrency exchanges, is temporarily halting trading for six cryptocurrencies due to their failure to meet the exchange’s listing standards. The affected cryptocurrencies are BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). This move will result in these assets losing access to important Coinbase services and platforms.

Coinbase’s Commitment to Quality

The decision to delist these cryptocurrencies is part of Coinbase’s commitment to maintaining the highest standards of quality among its listed assets. The exchange conducted a thorough investigation and found that these six assets did not meet its strict listing requirements.

Following the announcement, the prices of Ooki (OOKI), Multichain (MULTI), DerivaDAO (DDX), Jupiter (JUP), Voyager (VGX), and BarnBridge (BOND) fell by 0.5%, 0.7%, 24%, 16%, 6%, and 5% respectively. Multichain, in particular, has experienced setbacks, including the arrest of its CEO and the closure of its bridge due to significant Bitcoin losses.

FAQs

1. Why did Coinbase delist these cryptocurrencies?

Coinbase decided to delist these cryptocurrencies because they did not meet the exchange’s strict listing requirements after a thorough investigation.

2. Which cryptocurrencies are being delisted?

The delisted cryptocurrencies are BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX).

3. How will this affect the delisted cryptocurrencies?

The delisting will result in these cryptocurrencies losing access to important Coinbase services and platforms like the Simple and Advanced Trade capabilities, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

4. Is this delisting temporary or permanent?

This delisting is temporary, and Coinbase has not provided any information on whether these cryptocurrencies will be relisted in the future.

5. When will the suspension of trading for these assets take effect?

The trading for these assets will be suspended starting on September 7, giving interested parties around two weeks to adjust their holdings.

6. What is Coinbase’s listing process for cryptocurrencies?

Coinbase has a strict listing process for cryptocurrencies, which involves a thorough review of the asset’s technology, security, compliance, and other factors to ensure they meet the exchange’s high standards.

Summary

Coinbase has announced the temporary suspension of trading for six cryptocurrencies, including BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). These cryptocurrencies failed to meet Coinbase’s listing standards after a thorough investigation. As a result, they will no longer have access to important Coinbase services and platforms. The delisting has caused a decline in the prices of these assets. Coinbase’s commitment to quality and maintaining high standards in its listed assets prompted this decision.