Crypto Exchange Coinbase Delists Six Cryptocurrencies
Portfolio Pulse from Murtuza Merchant
Coinbase Global Inc. (NASDAQ:COIN) has announced its intention to halt trading for six cryptocurrencies on Sept. 6, 2023. The affected tokens are BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). The decision was made after these assets failed to meet the stringent listing criteria of the exchange. Following the announcement, the value of these assets declined significantly. The delisting further compounds the challenges faced by Multichain, which recently lost over $109 million in cryptocurrency assets.
August 24, 2023 | 10:23 pm
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NEGATIVE IMPACT
Coinbase's decision to delist six cryptocurrencies could impact its reputation and user base, potentially affecting its stock price.
The delisting of six cryptocurrencies from Coinbase could lead to a loss of trust among its users, potentially leading to a decrease in its user base and negatively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The delisting of Voyager (VGX) from Coinbase could lead to a decrease in its value.
The delisting of Voyager (VGX) from Coinbase could lead to a decrease in its value as it loses a major platform for trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100