2024-11-20
Coinbase has announced that it will
delist Wrapped Bitcoin (WBTC) suspend trading for Wrapped Bitcoin (wBTC) on
December 19, 2024 at approximately 12 PM ET.
The decision follows the company’s
regular review process to ensure that all assets on the platform meet its
listing standards. It comes after Coinbase's review found that WBTC no longer
meets its listing standards.
Users will still be able to withdraw
their WBTC funds, but trading will be suspended across Coinbase's platforms.
The suspension will apply across
Coinbase's platforms, including Simple and Advanced Trade on Coinbase.com,
Coinbase Exchange, and Coinbase Prime. Despite the suspension, users will
retain full access to their wBTC holdings and can withdraw their funds at any
time.
In preparation for this change,
Coinbase has moved its wBTC order books to limit-only mode. Users can continue
placing and canceling limit orders, with potential matches still occurring
during this transitional period.
The exchange encourages users to review
their wBTC positions ahead of the suspension date to avoid disruptions.
This move follows the introduction of
Coinbase's own wrapped Bitcoin token, cbBTC, which has quickly gained traction
in the market. The decision has been controversial, with some in the community
expressing concerns about the implications of this change.
