Coinbase to suspend trading for wBTC (wBTC) in December
Release: 2024/11/20 04:50 Reading: 974
Coinbase Delists wBTC on Its Platforms
Coinbase has announced the cessation of wBTC trading across its platforms, including Coinbase.com and Coinbase Prime, effective December 19, 2024.
Reason for Delisting
This decision follows a standard asset review. Coinbase has assessed wBTC against its listing standards and determined that it no longer meets those requirements.
Trading Suspension and Withdrawal
Trading for wBTC will be suspended on December 19, 2024, at approximately 12pm ET. However, users will still be able to withdraw their wBTC after trading closes.
wBTC Background
Launched in November 2019, wBTC facilitated the integration of Bitcoin into decentralized finance (DeFi) ecosystems. It is pegged 1:1 to Bitcoin, with its treasury backed by its primary custodian, BitGo.
Competition from cbBTC
The delisting comes after Coinbase introduced Coinbase Wrapped Bitcoin (cbBTC), a direct competitor to wBTC. cbBTC has faced criticism from Justin Sun, the current custodian of wBTC.
Sun's Criticisms and Poloniex
Sun has accused Coinbase of not undergoing proper proof-of-reserves audits for cbBTC. However, it is worth noting that Sun's own exchange, Poloniex, has also not conducted such an audit.
Coinbase's Response
Coinbase has stated that wBTC is not well integrated into its current platform architecture. This is despite the addition of speculative assets like Dogecoin and Shiba Inu to its listing.
wBTC Team's Reaction
The wBTC team has expressed shock and concern over the delisting. They emphasize the decentralization and compliance efforts behind the token and have appealed to Coinbase to reconsider its decision.
Recent news
More>- Trump’s Revolution Solana Memecoin Will Surge 13,000% Before First Exchange Listing, As Shiba Inu and DOGE Lag 11-23
- Enormous XRP Breakthrough: $2 in Sight, Dogecoin (DOGE) at Pivotal Price Level, Ethereum (ETH) Forms Very Dangerous Pattern 11-23
- Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025 11-23
- Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025 (22 Nov) 11-23
- New Solana Memecoin Shiba Eats Pepe to Skyrocket 16,000% Before Exchange Listing, as Dogecoin and Bonk Fall 11-23
- Top Trader Calls Dogecoin Budget XRP — Here's Why 11-23
- PNUT, WIF, PEPE Defy the Odds: How High Can These Memecoins Climb? 11-23
- $1k in Dogecoin in 2021 Worth $200,000 Today, Analyst Points to a New Opportunity to Repeat It 11-23
- $440 in Dogecoin (DOGE) Could Turn Into $44000 by November 2025, But One DOGE Alternative Will Do It in 8 Weeks: Surprisingly, It’s Not Shib... 11-23
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com