Coinbase Halts Wrapped Bitcoin Transactions and Faces Controversy

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Coin-Turk 11 months ago 154

American cryptocurrency trading platform Coinbase Global Inc. announced the suspension of Wrapped Bitcoin $97,070 (wBTC) transactions. The leading exchange clarified that despite this decision, the product would remain accessible to users, allowing token holders to withdraw their funds at any time.

Coinbase Ends wBTC Period

Coinbase stated that it regularly monitors its assets to ensure compliance with listing standards, revealing that wBTC was delisted following a recent review. The removal of wBTC transactions took effect at 12:00 PM Eastern Time.

The exchange announced the suspension of wBTC transactions on its main platform, Coinbase.com, as well as on Coinbase Exchange and Coinbase Prime.

Coinbase Assets: “We have moved our order books to limit order mode only. Limit orders can be placed and canceled, and matches can still occur.”

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