Coinbase to Suspend 6 Crypto Assets in September

In an unexpected move, Coinbase Assets announced the suspension of trading for six cryptocurrency assets on Sept. 6, 2023, at 9 AM PT.

Coinbase’s announcement mentioned six tokens, which include BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI) and Voyager (VGX).

We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), & Voyager (VGX) on September 6, 2023, around 9AM PT.

— Coinbase Assets 🛡️ (@CoinbaseAssets) August 23, 2023

• This suspension means the assets will no longer enjoy some of the exchange’s core services, including Simple and Advanced Trade, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.
• Per the release, the suspension of these assets will take effect starting Sept. 7, about two weeks from now. The announcement garnered massive attention online, with thousands of views and likes on Twitter within hours.
• The decision is part of Coinbase’s ongoing commitment to maintaining the high-quality standards associated with the assets listed. After a thorough review, the firm explained that the delisted assets fell short of the listing standards the popular exchange required.
• Following the announcement, the assets, including BOND, DDX, JUP, OOKI, VGX, and MULTI, recorded 5.1%, 24%, 16%, 0.5%, 6%, and 0.7% price plunges, respectively.
• The recent delisting adds to Multichain’s growing problems, including the CEO’s arrest and the shutdown of the bridge after losing over $109 million in crypto. In fact, at the moment, a large part of the crypto community believes MULTICHAIN is a dead project.