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COINTURK NEWS > Cryptocurrency Exchanges > Coinbase Announces Delisting of WBTC Tokens
Cryptocurrency Exchanges

Coinbase Announces Delisting of WBTC Tokens

In Brief

  • Coinbase is delisting wrapped Bitcoin (WBTC) tokens due to unmet listing requirements.

  • The delisting will take effect on December 19, 2024, affecting trading activities.

  • Funds will remain accessible for users to withdraw at any time.

Ömer Ergin
Ömer Ergin 7 months ago
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Coinbase has announced the delisting of wrapped Bitcoin $104,893 (WBTC) tokens, following a trend of altcoin listings and delistings in the cryptocurrency market. Companies that monitor the current status of altcoins can decide to delist tokens if they no longer meet listing requirements. This decision has been made regarding WBTC.

Contents
Details on WBTC DelistingPotential Impact on WBTC

Details on WBTC Delisting

According to Coinbase’s recent announcement, WBTC trading pairs will be removed in just a few hours. While the funds will remain accessible, users will no longer be able to trade this wrapped BTC token. It remains unclear whether this delisting is in preparation for the introduction of Coinbase’s own wrapped BTC, called cbBTC, or if it is due to failure to meet listing conditions.

Potential Impact on WBTC

Should other centralized exchanges follow Coinbase’s lead, WBTC may face significant decline and could become obsolete. The official announcement indicates that the delisting decision was made due to not meeting the necessary conditions.

“We regularly monitor our asset listing standards to ensure compliance. Based on our latest review, Coinbase will suspend trading in wBTC on December 19, 2024, at approximately 12:00 ET. Your wBTC funds will continue to be accessible, and you will have the ability to withdraw them at any time.”

“wBTC will only be available in limited mode on our order books. Limit orders can be placed and canceled, and matches can still occur.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 19 November, 2024 - 8:41 pm 19 November, 2024 - 8:41 pm
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