Many of the delisted pairs were trading against EUR and GBP.
The pairs have been removed from Coinbase Exchange, Advanced Trade, and Coinbase Prime.
In its latest drive to improve liquidity, California-based crypto exchange Coinbase (Nasdaq: COIN) removed 80 non-USD trading pairs yesterday (Monday). The removed trading pairs were trading against Tether, Bitcoin, Ethereum, and fiats like the euro and the British pound.
A Major Delisting Drive
The crypto pairs were delisted from three Coinbase platforms: Coinbase Exchange, Advanced Trade, and Coinbase Prime.
"Coinbase Exchange regularly monitors the markets on our exchange," the exchange wrote in the announcement on Coinbase Status. "In an effort to improve overall market health and consolidate liquidity, we will be removing a number of non-USD trading pairs for certain supported assets."
Despite being paired against some fiats, most of these pairs are low-volume altcoins. The crypto exchange highlighted that these trading pairs made up an immaterial amount when compared to the overall trading volume of the exchange.
The delisting did not come as a surprise, as Coinbase initially notified users about the move on October 3. The exchange will continue to allow users of the Advanced Trade platform to trade these assets in more liquid USD order books by using your USDC balances.
Usual Practices by Crypto Exchanges
The delisting of illiquid tokens has become a routine for many crypto exchanges. Last month, Coinbase removed 41 non-USD trading pairs from its platforms, citing similar circumstances. Binance, the largest global crypto exchange in terms of trading volume, also dropped dozens of crypto pairs from its listing.
Although Coinbase is headquartered in San Francisco and is the largest crypto exchange in the United States, it is extensively expanding internationally. Recently, the exchange received a license for Singapore, which will allow it to further expand its presence in Southeast Asia. It also received a license from Bermuda's financial regulator to allow eligible non-US retail customers to participate in perpetual futures trading.
Meanwhile, the exchange is fighting a legal battle in the US against the country's securities market watchdog, facing the allegation of running an illegal exchange platform, among others.
In its latest drive to improve liquidity, California-based crypto exchange Coinbase (Nasdaq: COIN) removed 80 non-USD trading pairs yesterday (Monday). The removed trading pairs were trading against Tether, Bitcoin, Ethereum, and fiats like the euro and the British pound.
A Major Delisting Drive
The crypto pairs were delisted from three Coinbase platforms: Coinbase Exchange, Advanced Trade, and Coinbase Prime.
"Coinbase Exchange regularly monitors the markets on our exchange," the exchange wrote in the announcement on Coinbase Status. "In an effort to improve overall market health and consolidate liquidity, we will be removing a number of non-USD trading pairs for certain supported assets."
Despite being paired against some fiats, most of these pairs are low-volume altcoins. The crypto exchange highlighted that these trading pairs made up an immaterial amount when compared to the overall trading volume of the exchange.
The delisting did not come as a surprise, as Coinbase initially notified users about the move on October 3. The exchange will continue to allow users of the Advanced Trade platform to trade these assets in more liquid USD order books by using your USDC balances.
Usual Practices by Crypto Exchanges
The delisting of illiquid tokens has become a routine for many crypto exchanges. Last month, Coinbase removed 41 non-USD trading pairs from its platforms, citing similar circumstances. Binance, the largest global crypto exchange in terms of trading volume, also dropped dozens of crypto pairs from its listing.
Although Coinbase is headquartered in San Francisco and is the largest crypto exchange in the United States, it is extensively expanding internationally. Recently, the exchange received a license for Singapore, which will allow it to further expand its presence in Southeast Asia. It also received a license from Bermuda's financial regulator to allow eligible non-US retail customers to participate in perpetual futures trading.
Meanwhile, the exchange is fighting a legal battle in the US against the country's securities market watchdog, facing the allegation of running an illegal exchange platform, among others.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
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