Coinbase is currently a very large and popular exchange site. It recently announced the delisting of the coin. Coinbase recently posted a tweet on the former Twitter account. There they announced that trading will cease for Status (SNT) on February 23rd at 2 pm ET. The large US-based exchange site has announced the end of training for SNT tokens. Although it is currently listed on various popular exchange sites. This token is currently listed on several other exchanges including Binance, OKX, Upbit and more.
We know that this is a very big exchange site nowadays and it is very popular and many coins are listed here. Recently, the exchange site claimed through a tweet that they have verified whether the listing criteria are met or not. It constantly reviews its exchange assets to verify that standard. And this is the main reason why this exchange site will suspend the trading of Status (SNT) on its platform.
And it will be effective next February 23, 2024 from 2 pm ET. They also released delisting-details with it and that includes Coinbase Simple and Advanced Trade, Coinbase Exchange and Coinbase Prime. SNT order books have been restricted to limited mode only since such announcements from this exchange site. Even so, a fixed time limit is set to allow investors to place and cancel limit orders. And so investors can match limit orders Of course, such incidents are not new to exchange sites. Earlier this popular exchange site also announced support devaluation for Bitcoin SV (BSV). Several other crypto exchanges have similarly disabled trading for Aragon (ANT), ATA, DREP, MONA and SYLO.
We often see a slight increase in delistings on many exchange sites these days. We even saw a few days ago that a popular site Binance announced to delist some coins from its site. Also we have seen many coins delisting this year or late last year. But there are some reasons behind this. Because we saw last year the United States Securities and Exchange Commission (SEC) filed a lawsuit against major crypto exchanges Binance and Coinbase.
However, the reason for this increase is that there has been a slight increase in delistings on various crypto exchanges since the lawsuits against these exchange sites. In the middle of last year, the US Securities and Exchange Commission accused Coinbase of being an unregistered national securities exchange. Coinbase was also sued for allegedly operating its crypto asset trading platform. The exchange still wants to dismiss the case.
Top crypto exchange Binance created a buzz in the crypto space during the week. It announced that it will drop the privacy token Monero (XMR) based on its recent reviews Recently we saw that Binance also decided to drop and stop trading on all trading pairs for cryptocurrencies Aragon (ANT), Multichain (MULTI) and Vai (VAI). If you want to more read about this news then you can read it.