Coinbase eliminated 80 trading pairs, which includes 28 USDT trading pairs, 23 EUR trading pairs, twenty BTC trading pairs, eight GBP trading pairs, and one ETH trading pair.
Coinbase removes 80 spot trading pairs
On the morning of October 17, 2023, Coinbase announced that it was temporarily suspending assistance for a big variety of non-USD spot trading pairs of USDT, EUR, BTC, GBP, and ETH as follows: announced 2 weeks ago.
The variety of trading pairs in the Coinbase Exchange, Advanced Trade, and Coinbase Prime capabilities that will temporarily suspend assistance involve 28 USDT trading pairs, 23 EUR trading pairs, twenty BTC trading pairs, eight GBP trading pairs, and one trading pair with ETH – 80 trading pairs in complete.
The trading cutoff time is 02:thirty on October 17, 2023, Vietnam time.
As previously announced, we have suspended trading on a variety of non-USD markets across Coinbase Exchange, Advanced Trade and Coinbase Prime.
To see the complete listing of impacted markets, see right here: https://t.co/rWCquh0QUr https://t.co/puQxkMKSuM
— Coinbase Exchange 🛡️📞 (@CoinbaseExch) October 16, 2023
Specifically, Coinbase has temporarily suspended 80 non-USD spot trading pairs, which includes:
ACH-USDT, AGLD-USDT, ARPA-EUR, ARPA-USDT, AUCTION-EUR, AUCTION-USDT, BADGER-EUR, BADGER-USDT, BAND-BTC, BAND-EUR, BAND-GBP, BNT-BTC, BNT- EUR, BTRST-BTC, BTRST-EUR, BTRST-USDT, C98-USDT, CTSI-BTC, DESO-USDT, ELA-USDT, ERN-USDT, FORTH-BTC, FORTH-EUR, GAL-USDT, HFT-USDT, IDEX-USDT, IOTX-EUR, KNC-BTC, KSM-USDT, LCX-EUR, LCX-USDT, LQTY-EUR, LQTY-USDT, METIS-USDT, NKN-BTC, NKN-EUR, NKN-GBP, NMR- BTC, NMR-EUR, NMR-GBP, OGN-BTC, PERP-EUR, PERP-USDT, POND-USDT, POWR-EUR, POWR-USDT, RAD-BTC, RAD-EUR, RAD-GBP, RAD-USDT, REN-BTC, REQ-BTC, REQ-EUR, REQ-GBP, REQ-USDT, RLC-BTC, SKL-BTC, SKL-EUR, SKL-GBP, SPELL-USDT, STORJ-BTC, SUPER-USDT, SUSHI- BTC, SUSHI-ETH, SUSHI-EUR, SUSHI-GBP, TRAC-EUR, TRAC-USDT, TRU-BTC, TRU-EUR, TRU-USDT, UMA-BTC, UMA-EUR, UMA-GBP, XYO-USDT, ZEN-BTC, ZEN-USDT, ZRX-BTC, ZRX-EUR.
In distinct, in the over listing, there are three coins in the listing of 52 tokens declared by the SEC as securities:
The explanation for the short-term suspension of trading offered by the exchange is to “improve the overall health of the market and consolidate liquidity”. It also stated that Coinbase Advanced Trade end users in eligible areas (but did not specify which areas) can even now trade these assets for USD or USDC trading pairs.
Another explanation could be for the reason that Coinbase is wanting to improve the use of USDC, the stablecoin launched by the exchange in partnership with Circle.
Coinbase’s announcement to temporarily suspend assistance for a big variety of trading pairs reminds the investment local community of a equivalent incident that occurred in the previous with “rival” Binance.US – announced in June 2023. announced the delisting of 102 spot trading pairs, just two days following getting sued by the US Securities Commission (SEC).
After Binance, the significant US cryptocurrency exchange, Coinbase, was sued by the SEC for violating US securities rules associated to trading and staking pursuits. Due to these allegations, the SEC also asked Coinbase to halt trading all cryptocurrencies except Bitcoin!
This is fully steady with the SEC Chairman’s inherent see that: “only Bitcoin is not a security”, and the remaining coins are all securities.
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