Benzinga - Coinbase Global Inc.'s (NASDAQ: COIN) Coinbase Assets declared on Thursday its intention to halt trading for six cryptocurrency assets on Sept. 6, 2023, at 9 a.m. PT.
The affected tokens, as specified in the announcement, are BarnBridge (CRYPTO: BOND), DerivaDAO (CRYPTO: DDX), Jupiter (CRYPTO: JUP), Multichain (CRYPTO: MULTI), Ooki (CRYPTO: OOKI) and Voyager (CRYPTO: VGX).
As a result of this suspension, these assets will be excluded from several of Coinbase's primary services.
This encompasses Simple and Advanced Trade, Coinbase Pro, Coinbase Exchange and Coinbase Prime.
The news quickly gained traction on social media platforms, particularly on X, formerly known as Twitter, where it amassed thousands of views and likes in a matter of hours.
Coinbase emphasized that this decision aligns with its continuous dedication to upholding the superior standards of the assets it lists.
After an exhaustive evaluation, the company concluded that these six assets did not meet the stringent listing criteria that the exchange mandates.
In the aftermath of this announcement, there was a noticeable decline in the value of the mentioned assets. Specifically, BOND, DDX, JUP, OOKI, VGX and MULTI experienced price drops of 5.1%, 24%, 16%, 0.5%, 6% and 0.7%, respectively.
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This delisting further compounds the challenges faced by Multichain.
Notably, the recent arrest of its CEO and the cessation of its bridge operations after a staggering loss of over $109 million in cryptocurrency assets have cast shadows over its future.
Presently, a significant portion of the cryptocurrency community is skeptical about Multichain's viability, with many considering it a defunct project.
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