Coinbase Drops XRP & Other Tokens, Cites Low Activity


As the FTX saga continues, all eyes are on crypto exchanges: Coinbase, Crypto.com, Binance and the like all have hefty sets of eyes on their next moves.

There is plenty to be said for the state of crypto exchanges today, but Coinbase’s announcement of the delisting of several tokens: BCH, ETC, XLM, and XRP. Let’s dive into the state of crypto exchanges currently, and more on Coinbase’s latest announcement.

Exchange: Status Check

While Binance CEO Changpeng ‘CZ’ Zhao has seized the spotlight as crypto’s ‘main character’ lately, Crypto.com’s leadership team – spearheaded by CEO Kris Marszalek – has largely been on the defensive, while Coinbase has been treading their steady positioning. Plenty of other major headlining exchanges have followed suit with Coinbase. Many have sought to maintain posture and look to keep ‘business as usual’ to weather the storm.

Nonetheless, the spotlight is on. As more threads unravel around the FTX saga, consumer trust is impacted in immeasurable ways; one consistent thread is that all exchanges, the aforementioned 3 and beyond, have faced pressures to increase transparency around reserves.

That could lead to exchanges at large preparing for increased regulatory oversight, particularly with the U.S. Senate hearing regarding FTX less than 48 hours away.

Related:  Big Eyes Coin Continues Successful Presale

XRP is frequently a top 10 token in biggest market cap in crypto; however, Coinbase has elected to no longer support trading of the token, citing "low activity." | Source: XRP-USD on TradingView.com

Coinbase’s Delisting

We haven’t seen a delisting from Coinbase in recent memory. In a tweet announcement earlier on Tuesday, Coinbase announced the token delisting:

 

Featured image from Coinbase.com/press, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.



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