I want to tell you about some recent developments in the realm of virtual currency. Do you know Coinbase? They just made a significant choice, so I had to inform you about it right away. Take a virtual popcorn break because this is great content!
So here's the news: Coinbase Assets, a major player in the cryptocurrency industry, has taken a decision. Starting on September 6, 2023, trading for six specific crypto assets will be put on hold. And what's this? At 9:00 a.m. PT, the action begins. Yes, remember to mark your calendars!
But wait, the IOU for Pi Network has been saved from this delisting storm. You did hear me correctly. Pi Network's IOU will remain in place; no eviction notice will be issued.
Okay, who exactly is unlucky? In any case, BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX) are bidding farewell for the time being. Some of Coinbase's core services, including Simple and Advanced Trade, Coinbase Pro, Coinbase Exchange, and Coinbase Prime, will no longer include them. They appear to be taking a brief break from the celebration.
September 7 the big day for this suspension is just over two weeks away. And what's this? When Coinbase made this declaration, it was like throwing a boulder into a still lake. Waves, everyone! On Twitter, thousands of views and likes poured in within a short period of time. Everyone seems to be interested in this move.
How come Coinbase took this action? Well, they're all about quality, my inquisitive minds. After careful consideration, they concluded that these six pals fell short of their high expectations. You already know how particular Coinbase is about their business.
The juicy part is that these tokens didn't take the news well, so hold onto your seats. Prices had some ups and downs. As soon as they noticed a ghost, BOND, DDX, JUP, OOKI, VGX, and MULTI all fell. The figures are 5.1%, 24%, 16%, 0.5%, 6%, and 0.7%.
However, there's still more! Multichain (MULTI) appears to be struggling the most among these six. Not a great day at the office, eh? CEO arrested, bridge closed. Over $109 million in cryptocurrencies were lost. Yikes! People are speculating as to whether Multichain is raising the white flag.
Wait, there's a twist here. IOU of Pi Network is allowed to relax. It appears as though Coinbase is applauding it and saying, "You're doing great, kid." They appear to believe that Pi Network is abiding with the law.
This entire incident demonstrates how important quality control is to Coinbase. They aren't just allowing any old coins to show up. They seem to be reminding us that the crypto industry can occasionally be a little crazy.
You now have access to the most recent information from the cryptocurrency world. Pi Network's IOU receives a high-five, but Coinbase is putting its foot down and saying "bye for now" to six tokens. It's all about maintaining a sense of sophistication and ensuring that the cryptocurrency industry remains thrilling as ever. be interested, be secure, and keep riding those crypto waves till the next update!