Coinbase To Delist Wrapped Bitcoin On This Date, Citing ‘Listing Standards’
Posted On November 20, 2024
Coinbase Global Inc. (NASDAQ:COIN) announced plans to remove Wrapped Bitcoin (CRYPTO: WBTC) from its trading platform, citing “listing standards,” with trading suspension scheduled for Dec. 19.
What Happened: The move follows the cryptocurrency exchange’s recent launch of its own wrapped Bitcoin product, cbBTC, on the Base blockchain.
“We have moved our wBTC order books to limit-only mode. Limit orders can be placed and canceled, and matches may occur,” the exchange said on X.
Wrapped Bitcoin, introduced in January 2019, is an ERC-20 token that represents Bitcoin (CRYPTO: BTC) on the Ethereum (CRYPTO: ETH) blockchain, maintaining a 1:1 peg with Bitcoin’s value.
The Wrapped Bitcoin protocol ensures that each wBTC token is …
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