Coinbase, the leading U.S.-based cryptocurrency exchange, has announced the delisting of five tokens—CRPT, MXC, QSP, REN, and TONE—due to their failure to meet the platform’s compliance standards. Collectively, these assets represent a market valuation of approximately $60 million.
Key Highlights
- Delisting Date: Trading suspension begins November 3, 2023, at 2 PM ET.
- Affected Tokens: Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), and TE-FOOD (TONE).
- Investor Assurance: Funds remain accessible for withdrawal post-delisting.
- Platform Impact: Delistings apply to Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.
Reasons for Delisting
Coinbase conducts periodic reviews to ensure listed assets comply with its standards. The exchange stated:
“Based on recent reviews, we will suspend trading for these assets as they no longer meet our listing criteria.”
👉 Explore secure alternatives for trading delisted tokens
Detailed Breakdown of Affected Tokens
| Token | Market Cap (Approx.) | Key Notes |
|-------------|----------------------|------------------------------------|
| CRPT | $12M | Crypterium’s utility token |
| MXC | $15M | Largest market share among the five|
| QSP | $8M | Quantstamp’s audit-focused token |
| REN | $10M | Ren Protocol’s interoperability token|
| TONE | $15M | TE-FOOD’s supply chain token |
What Investors Should Know
- Post-Delisting Access: Users can withdraw tokens indefinitely.
- Trading Restrictions: Order books for four tokens shifted to limit-only mode ahead of delisting.
- No Financial Losses: Delisting does not equate to fund forfeiture.
Frequently Asked Questions (FAQs)
1. Why is Coinbase delisting these tokens?
Coinbase periodically evaluates listed assets for compliance with its standards. The five tokens failed to meet updated requirements, prompting their removal.
2. Can I still withdraw my funds after delisting?
Yes. Coinbase confirmed users retain withdrawal access indefinitely, even after trading halts.
3. Will these tokens be relisted in the future?
Relisting depends on the projects’ ability to meet Coinbase’s revised standards. No timeline has been provided.
4. How does this impact the tokens’ market value?
Delistings often trigger short-term price volatility. Long-term effects depend on project viability and exchange support elsewhere.
5. Are other exchanges delisting these tokens?
No announcements from major platforms yet. Investors should monitor updates from competing exchanges like 👉 OKX.
6. What should I do if I hold these tokens?
Consider transferring to a non-custodial wallet or another exchange supporting the assets. Always research alternatives before acting.
Final Thoughts
Coinbase’s decision underscores its commitment to regulatory and operational standards. While delistings may disrupt short-term trading, they reinforce trust in the platform’s vetting processes. Investors are advised to stay informed and explore secure alternatives for affected assets.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct independent research before making investment decisions.
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