Just like the Coinbase new listings are important to expanding its crypto offerings, delistings are also essential. But what Coinbase delistings have happened this year?
Coinbase delistings, like Binance delistings, will allow Coinbase to cull certain coins it no longer sees fit for its platform. Let's find out the latest Coinbase delistings.
Which coins has Coinbase removed in 2022?
Removing coins from an exchange, such as through the Coinbase delisting process, is essential in many ways.
It allows the exchanges to remove assets that may no longer be of value to the firm or its consumers.
However, Coinbase, given it is already more cautious with its offerings, does not delist as many coins. In fact, in 2022 it has only delisted one token - Wrapped Luna - following the Luna crypto crash. This meant the Luna Coinbase listing planned to happen in 2022 was also cancelled.
Elsewhere, Coinbase has removed several cryptocurrencies from its price tracking and resources section. These include Squid, DeFi100, and Mercenary - all deemed rug pulls.
The Coinbase Assets division is mainly responsible for listing and delisting tokens, so it's worth keeping an eye on its page for more news here.
Why does Coinbase delist crypto tokens?
Every crypto exchange has certain criteria for delisting coins and maintaining its crypto portfolio updated with new coins.
Per Coinbase, the exchange takes note of consumer security and safety while listing an asset on the exchange. If any token does not adhere to the guidelines established by the firm, it is then officially removed from the exchange. In a blog post, it said:
At Coinbase, our goal is to list every asset that is legal and safe to do so, so that our customers are protected but we also create a level playing field for all the new assets being created in crypto.
The exchange also keeps a track of how each crypto coin is performing and also performs delistings only when a crypto asset does not fulfill the standard set by the exchange. It states:
We may also de-list assets if they stop meeting our requirements, or new information becomes available.