Coinbase Exchange has announced that it will delist five crypto assets from its platform as they do not meet the exchange’s listing criteria.
Coinbase is the second highest crypto exchange in terms of market capitalization. In 2012, this exchange was founded by former Airbnb engineer Brian Armstrong, who is currently CEO of this exchange. This grant became public in 2021. This year, Coinbase received a lawsuit from the U.S. Securities and Exchange Commission (SEC).
On October 20, 2023, Coinbase Exchange announced that it will remove Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), TE-FOOD (TONE) tokens from the Coinbase exchange.
As announced, the latest monitoring results showed that the mentioned crypto assets no longer meet the listing criteria.
These mentioned tokens will no longer be available for trading from November 3, 2023.
At the time of writing this article, the total market capitalization of all crypto assets mentioned is almost $60.8 million. In short, it will reduce the trading volume of $60 million from the platform.
Following this news, the trading price of CRPT tokens fell by 20% on the same day.
The MXC token suffered a price dump of only 2% and the trading price of the REN token fell by almost 0.7%. In short, we can say that Coinbase’s delisting news was unaffected for MXC token and REN tokens.
The QSP token also fell 19% within a few hours of the Coinbase delisting announcement.
Tone token also crashed almost 20% after this bad news.
Coinbase, Ireland and the EU
We recently reported that the Coinbase exchange was planning to establish its central operating hub for crypto services in Ireland. If Coinbase succeeds in its plan, it will be able to offer its crypto services in all EU member states on behalf of a single crypto license “MiCA”.
Since the third quarter of this year, the Coinbase exchange showed a significant tilt towards non-US jurisdictions. According to reports, this exchange is looking to expand the reach of its crypto services in multiple countries so that the company can gain significant diversification.
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