Coinbase crypto exchange, is making a move by delisting five cryptocurrencies with a combined market valuation of over $60 million.
The exchange said that the decision, affecting Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), and TE-FOOD (TONE), follows a thorough review of the assets and their failure to meet Coinbase’s listing standards.
In addition, the team noted that delisting is scheduled for November 3, 2023, but investors can rest assured that their investments will be recoverable post-delisting.
Coinbase maintains strict listing criteria and periodically evaluates assets on its platform to ensure they meet these standards.
This commitment to quality and compliance is a hallmark of the exchange. By delisting assets that fall short of these criteria, Coinbase said it aims to provide a secure and regulated trading environment for its users.
The delisting isn’t limited to Coinbase single platform; it covers all Coinbase platforms, including Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.
Trading suspensions are in effect, emphasizing Coinbase’s dedication to maintaining a strong, compliant ecosystem.
Coinbase has initiated trading adjustments. Four of the affected digital assets have transitioned to “limit-only” mode, allowing investors to place and cancel limit orders. This approach minimizes market disruption in the lead-up to the official delisting date.
This development underscores the dynamic nature of cryptocurrency trading platforms. Regulatory compliance is a top priority, and periodic asset reviews are a standard practice. Such actions influence market dynamics, often signaling shifts in asset credibility and investor preferences.