coinbaseannounced that it has suspended trading (delisted) for five specific altcoins, a decision aimed at improving the security of trading activities on its platforms. These assets include Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN) and TE-FOOD (TONE). During this delist period, users will be able to continue withdrawing their assets, thus maintaining access to their funds. This decision aims to increase the security and integrity measures of the exchange.
We have disabled trading for Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), TE-FOOD (TONE). Your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/VoDEnLThHR
NEWS CONTINUES BELOW— Coinbase Assets 🛡️📞 (@CoinbaseAssets) November 3, 2023
The decision to delist for these particular altcoins comes as Coinbase proactively evaluates its offerings to ensure the highest level of security and trust for its user base. Such actions are frequently seen in the cryptocurrency industry, where security concerns are very important.
Coinbase allows users to maintain full control of their assets during this time and offers the freedom to make withdrawals during this period. This means that users can withdraw their assets whenever they wish. Coinbase states that this measure is intended to protect the security and integrity of transactions occurring on its platform. Thus, it emphasizes its determination to gain and maintain the trust of its users. Users can be assured that they will find their assets safe and accessible during this time.
Security and integrity are two of the most important concerns in the cryptocurrency world, where billions of dollars worth of digital assets change hands every day. By temporarily suspending trading of these altcoins, Coinbase aims to prevent any potential vulnerabilities or security risks associated with them. This is a responsible step to ensure that users’ investments remain safe and protected.
The suspension will also allow Coinbase to conduct a comprehensive review of these altcoins and evaluate whether they meet the exchange’s stringent listing and security standards. While the specific reasons behind the suspension of these five altcoins have not been made public, Coinbase is known for its rigorous evaluation process before listing or delisting any digital asset.