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Coinbase, the largest crypto exchange in the United States, has announced a new delisting. Coinbase stated in a new tweet that it will cease trading for Status (SNT) on Feb. 23, 2024, at around 2 p.m. ET, citing a recent review. Status (SNT) is currently listed on Binance, OKX, Upbit and a few other exchanges, according to Wu Blockchain.
Coinbase claims it constantly reviews the assets on its exchange to verify they fulfill listing criteria. Given this reason, Coinbase will be suspending trading of Status (SNT) on its platforms, including Coinbase Simple and Advanced Trade, Coinbase Exchange and Coinbase Prime.
In this light, SNT order books have been restricted to limit-only mode, which allows limit orders to be placed and canceled, and matches may occur.
Earlier in February, Coinbase announced the deprecation of support for Bitcoin SV (BSV). The crypto exchange has likewise disabled trading for Aragon (ANT), ATA, DREP, MONA and SYLO.
Since the United States Securities and Exchange Commission (SEC) filed litigation against major crypto exchanges Binance and Coinbase last year, there has been a slight increase in delistings on various crypto exchanges.
The Securities and Exchange Commission charged Coinbase in June 2023 with operating its crypto asset trading platform as an unregistered national securities exchange, a lawsuit that Coinbase seeks to dismiss.
Top crypto exchange Binance caused a buzz in the crypto space during the week when it announced it would be delisting privacy token Monero (XMR) based on its most recent reviews.
Binance also decided to delist and cease trading on all trading pairs for the cryptocurrencies Aragon (ANT), Multichain (MULTI) and Vai (VAI).