Coinbase Prime to Drop Custody Support for 49 Altcoins by End of April
Which Altcoins Are Being Delisted?
In an April 14 post on X, Coinbase stated:
We regularly evaluate the assets we support to ensure they continue to meet our standards. Based on recent reviews, Coinbase Prime will end custody support for 49 assets, effective the end of the month.
You can see all the altcoins that are going to be delisted here. Among the most notable assets losing support are:
- BOSAGORA (BOA)
- 0chain (ZCN)
- pNetwork (PNT)
- Telcoin (TEL)
- Oraichain Token (ORAI)
- Sentinel Protocol (UPP)
- Cellframe (CELL)
- Ideaology (IDEA)
- RioDeFi (RFUEL)
What Does This Mean for Institutional Investors?
Coinbase Prime serves institutional clients by offering custody, trading, and financing solutions. Custody, in particular, provides a secure storage method that ensures regulatory compliance and robust asset protection for large-scale investments.
This removal signals a strategic reassessment of the platforms supported assets, possibly driven by:
- Low liquidity
- Insufficient trading volume
- Lack of institutional demand
- Compliance or regulatory concerns
While some of the tokens have remained stableor even gained in the short term (like PNT, ORAI, TEL, and IDEA)others have experienced slight pullbacks.
Impacted Coinbase Prime clients will need to liquidate or transfer their holdings before the end of April 2025. Failure to do so may result in inaccessibility post-deadline.
Coinbase has not provided specific criteria for these removals but emphasized ongoing reviews to ensure its platform remains aligned with institutional standards.
The post Coinbase Prime to Drop Custody Support for 49 Altcoins by End of April appeared first on Coindoo.
Read more: https://coindoo.com/coinbase-prime-to-drop-custody-support-for-49-altcoins-by-end-of-april/
Text source: Coindoo
