Coinbase gives reason for massive delisting
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As previously announced, we have suspended trading on a number of non-USD markets across Coinbase Exchange, Advanced Trade, and Coinbase Prime.In total, 80 trading pairs are impacted as a result of the delisting moves; these include ACH-USDT, ARPA-EUR, BAND-BTC, BAND-EUR, BAND-GBP, ERN-USDT, FORTH-BTC, FORTH-EUR, GAL-USDT, SUSHI-BTC, SUSHI-ETH, SUSHI-EUR, SUSHI-GBP and several others.
The largest U.S. digital asset platform recorded approximately $76 billion in spot trading volume, a 52% decrease from the previous year. Despite the drop, Coinbase is believed to have gained market share in the quarter as Binance faced more regulatory scrutiny. In this regard, Coinbase's share of overall spot trading activity likely increased to 5.7% from 4.2% a year ago.As part of its efforts to seek regulatory clarity for the entire crypto industry, Coinbase is demanding that the Securities and Exchange Commission act on its crypto rulemaking petition.
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