Coinbase is taking three memoins from the market in New York – what happens there?
- After a stopped trade by Coinbase, Floki Inu fell by one percentage point, Gigachad lost 13 and Turbo even rose 3.5 percent against the trend.
- Coinbase continues to campaign for regulatory clarity in the United States and submitted a FOIA application regarding the SEC measures.
In an important announcement, the US crypto tours Coinbase decided to take three well -known Memecoins – Floki Inu (Floki), Turbo (Turbo) and Gigachad (Giga) – anis, which led to rumors in the market. The measure followed the routine review of all noted assets through the stock exchange as to whether they continue to meet the regulatory and compliance standards.
Why this three?
Coinbase has announced the suspension of Floki, Turbo and Giga Token in New York after a routine review to ensure that the listings adhere to compliance and risk standards. While the stock exchange did not give any specific reasons, regulatory concerns, legal risks or liquidity problems can be the cause.
New York has strict crypto regulations that present some crypto tokens with great challenges to ensure compliance with the regulations. There is a high probability that Floki, Turbo and Giga fell out of the city’s compliance area, which forces Coinbase to remove them from the platform. In one Statement Coinbase stated:
“We regularly monitor the assets on our stock exchange to ensure that you meet our listing standards. Due to the latest reviews, we will only expose the trade for Floki (Floki), Turbo (Turbo) and Gigachad (Giga) in New York on April 14, 2025, around or around 2 p.m.
The announcement of Coinbase, Floki, Turbo and Gigachad in New York in New York led to mixed market reactions. Floki’s course dropped by 1 %, and Gigachad recorded a stronger decline of 13 %. Turbo, on the other hand, defied the trend and recorded an increase of 3.5 %within 24 hours.
This different price development indicates a mixed reaction of the dealers: some have repelled the tokens in response to the news, while others benefited from volatility.
Dealing with regulatory authorities and agencies
After Donald Trump’s victory in the US presidential election in November 2024, the CryptoBörse Coinbase actively participated in discussions about the introduction of greater regulatory clarity.
In recent development, Coinbase has submitted an application for freedom of information (Freedom of Information Act, FOIA) to uncover the financial effects of the SEC crypto enforcement measures during the previous government. The step aims to throw light on the costs associated with regulatory decisions in the cryptocurrency sector – CNF reported.
Coinbase resumed his crypto trade services in India after it had registered with the country’s Financial Intelligence Unit (FIU) after it had previously been stopped due to regulatory challenges. In addition, the stock exchange has introduced a proof of reserve for CBBTC, which guarantees complete Bitcoin support in order to counteract the growing concerns regarding the stability of the cryptoma market-CNF.
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