Coinbase Announces Yet Another Altcoin Delisting Decision
In a recent development within the cryptocurrency realm, Coinbase, a prominent player in the American crypto exchange landscape, has made a notable decision regarding its trading portfolio.
Through a public announcement on their official Twitter handle, Coinbase revealed its intention to halt trading activities for Status (SNT) effective February 23, 2024, around 2 p.m. ET. This decision comes in the wake of an internal review conducted by the exchange to ensure compliance and uphold quality standards.
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Status (SNT) on 23 February 2024, on or around 2 PM ET.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) February 9, 2024
Although Status (SNT) remains accessible on platforms such as Binance, OKX, and Upbit, as per reports from Wu Blockchain, Coinbase has opted to suspend its trading across all its subsidiary platforms, including Coinbase Simple, Advanced Trade, Exchange, and Prime.
In response to this alteration, the order books for SNT will transition to a restricted limit-only mode, permitting the placement and withdrawal of limit orders while enabling specific matching conditions. Additionally, Coinbase recently announced the cessation of support for Bitcoin SV (BSV) and suspended trading for several other cryptocurrencies, including Aragon (ANT), ATA, DREP, MONA, and SYLO.
READ MORE: Binance Joins Forces with INTERPOL to Boost Cybersecurity Worldwide
The decision by Coinbase comes amid heightened scrutiny and legal challenges faced by major crypto exchanges in the United States. The Securities and Exchange Commission (SEC) initiated legal proceedings against both Binance and Coinbase last year, alleging regulatory violations.
Coinbase specifically faces accusations of operating its crypto asset trading platform as an unregistered national securities exchange, a matter currently under dispute by the exchange.
Meanwhile, Binance attracted attention by announcing the delisting of privacy-focused token Monero (XMR) and discontinuation of trading for various other cryptocurrencies such as Aragon (ANT), Multichain (MULTI), and Vai (VAI), as part of its ongoing review process.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
