- Coinbase announces the delisting of five tokens due to non-compliance with listing standards.
- Affected tokens include CRPT, MXC, QSP, REN, and TONE, with a combined market valuation of $60 million.
- Coinbase reassures investors that despite delisting, their funds remain safe and accessible for withdrawal.
Coinbase Exchange, the largest US-based centralized crypto trading platform, has embarked on a significant move that could impact multiple assets trading on its exchange. In particular, Coinbase has announced plans to delist five cryptocurrencies from its trading platform. The exchange communicated this decision in a recent statement on the X platform (formerly Twitter).
According to the notification, the reason behind the delisting action is that the five digital assets failed to meet Coinbase’s outlined listing standards. “We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for” the following asset, the announcement read.
The to-be-delisted cryptocurrencies are Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), and TE-FOOD (TONE). These tokens have a combined market valuation of $60,805,937, with MXC boasting the largest market share at $15 million. Notably, their removal from the US-based trading platform will take effect two weeks from now, specifically, Friday, November 3, 2023.
While the exchange will remove the listed assets on the stated date, it clarified that investors in those tokens will not lose their investments. In particular, Coinbase stated the cryptocurrencies will remain accessible to them for withdrawal at any time.
The US-based crypto business also outlined all its platforms that would no longer support CRPT, MXC, QSP, REN, and TONE. They include Coinbase.com (Simple and Advanced Trade), Coinbase Pro, Coinbase Exchange, and Coinbase Prime.
In the meantime, until the delisting date, Coinbase has also moved the order books of four digital assets to “limit-only” mode. Besides, the exchange clarified that “limit orders can be placed and canceled, and matches may occur.”
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