Crypto News – On September 6, a total of six tokens will no longer be traded, according to a statement from the cryptocurrency exchange Coinbase. As a result of the change, BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX) are all impacted.
Crypto Exchange Coinbase to Delist 6 Tokens Due to Bankruptcies and Exploits
According to the platform, the suspension would affect a number of its services, including Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime. These delistings have a variety of causes because every token has different problems.
Multichain (MULTI)
After a dramatic sequence of events that included the founder’s sister’s arrest and the subsequent halt of operations in July, Multichain has been dealing with a variety of issues. A loss of nearly $126 million was also brought on by an exploit in July.
Ooki (OOKI)
Following a judicial setback in a case against the CFTC in June, an Ethereum token intended to power the Ooki Protocol faced difficulties. Ooki DAO operated as an illegal trading platform, according to US Judge William H. Orrick’s ruling.
Voyager (VGX)
Voyager was accused of being a security by the SEC when it filed for Chapter 11 bankruptcy last year. Voyager, on the other hand, claimed that VGX is not a security. After news broke that the personal information of former customers of Voyager Digital had been hacked, more worries surfaced.
BarnBridge (BOND)
The SEC is investigating BarnBridge, recognized for its risk tokenization in decentralized finance. In July, BarnBridge DAO’s legal representative, Douglas Park, revealed that the company and its affiliates were the subject of an investigation. Its product innovations were put on hold as a result of this investigation, and liquidity pools were shut down.
DerivaDAO (DDX)
DerivaDAO, a decentralized exchange for derivatives, ran into problems after the SEC classified DDX as a security. It happened after an insider trading case involving a former Coinbase employee.
Jupiter (JUP)
A blockchain Jupiter powers decentralized apps (dApps) like the Metis Messenger using “military-grade encryption.” In response to regulatory scrutiny, the native JUP token saw a decline on its daily chart.
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