Coinbase has declared the removal of wrapped Bitcoin (WBTC) tokens from its trading platform. This step is part of its ongoing evaluation of altcoins, with plans to delist assets that do not meet its established criteria. As a result, WBTC trading pairs will soon be eliminated.
What is the Deadline for WBTC Trading?
The cutoff date for WBTC trading has been set for December 19, 2024, at approximately 12:00 ET. While users will still have access to their funds, the ability to trade using the WBTC token will cease. The rationale behind this delisting remains uncertain—whether it’s an effort to push Coinbase’s own cbBTC or a response to WBTC’s failure to adhere to necessary guidelines.
Could Other Exchanges Follow Coinbase’s Example?
Should other centralized exchanges opt to mimic Coinbase’s decision, WBTC could encounter considerable obstacles. Coinbase’s official statement emphasizes that the delisting arises from WBTC not meeting the essential listing standards.
Key points regarding the WBTC delisting include:
- Trading for WBTC is scheduled to end on December 19, 2024.
- Users will retain access to their WBTC funds for withdrawal.
- The delisting may signal a strategic shift towards Coinbase’s own wrapped Bitcoin, cbBTC.
Coinbase remains committed to monitoring its listing standards rigorously, ensuring all assets meet its high requirements for continued presence on the platform.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/coinbase-removes-wrapped-bitcoin-from-listings