Following a series of important developments, three major cryptocurrency exchanges – KuCoin, Bitfinex and Coinbase – made delisting announcements. Exchanges mobilized the cryptocurrency community by announcing the delisting of various altcoin projects. Here are the details…
KuCoin delists many altcoin projects
KuCoin exchange announced on November 23 that support for 10 projects was suspended and the corresponding trading pairs were subsequently delisted. He pointed to “special treatment rules” as the reason for this delist. Affected altcoin projects include Kambria (KAT), Sakura (SKU), Don-key (KDON), LOCGame (LOCG), Sienna (WSIENNA), Inflation Hedging Coin (IHC), Position Exchange (POSI), TE-FOOD (TONE). , Pika Protocol (PIKA) and Karura (KAR). KuCoin announced that the trading pairs associated with these projects have been removed:
- KAT/USDT, KAT/BTC
- SKU/USDT, SKU/BTC
- KDON/USDT
- LOCG/USDT
- WSIENNA/USDT
- IHC/USDT
- POSI/USDT
- TONE/USDT, TONE/BTC, TONE/ETH
- PIKA/USDT
- PROFIT/USDT
The delisting process will occur gradually, with KuCoin’s trading bots ceasing operations on November 24, 2023. The official delisting of the specified trading pairs is scheduled for 10:00 on the same day. Withdrawal services for affected projects will end on May 28, 2024, leaving investors and enthusiasts searching for answers about the nature of the breaches and potential repercussions. KuCoin has not yet provided detailed information regarding the violations committed by these projects. However, many users are waiting for clarification on the situation. This move by the exchange aims to ensure compliance with regulations and protect the integrity and security of its platform, according to its statement.
Bitfinex is also taking delist steps
Bitfinex, another leading altcoin exchange, also delisted some tokens. Aragon (ANT), eCash (XEC) and Retreeb (TREEB) are among the removed projects. Deposits and trading for these tokens ended today, November 23, 2023. However, withdrawal services will remain open until January 18, 2024. Bitfinex’s decision adds to the growing delist news in the crypto space.
Coinbase also announced a delist
Finally, Coinbase, a leading crypto platform, announced the delisting of QuickSwap (QUICK) altcoin. The decision is attributed to the launch of a new version of QUICK following a 1000:1 split. Trading of QUICK will end at 00:00 on December 7, and investors will be asked to manually switch from their wallets to the new token version if they wish to continue holding QUICK.
As a result, these altcoin delist announcements made by KuCoin, Bitfinex and Coinbase attracted attention. Because it raised questions about the nature of the violations, their potential repercussions, and the listing criteria on these platforms. The cryptocurrency world is going through these rapid changes. Meanwhile, investors and enthusiasts are watching developments closely. It also highlights the need for transparency and adherence to regulations in the industry.
