Coinbase Reveals Removal of 7 Trading Pairs to Enhance Liquidity

Coinbase announced its intention to eliminate several trading pairings for various supported assets on May 23, 2023, at approximately 9:00 a.m. Pacific Time. Due to liquidity concerns, the following pairs have been removed: ASM-USDT, ATA-USDT, DESO-EUR, FORT-USDT, FORTH-GBP, MCO2-USDT, and XYO-BTC.

To consolidate liquidity, we will be removing a number of trading pairs for certain supported assets.

We will suspend trading on the following markets on or around 9AM PT on 23 May 2023:

ASM-USDT, ATA-USDT, DESO-EUR, FORT-USDT, FORTH-GBP, MCO2-USDT, XYO-BTC

— Coinbase Exchange 🛡️ (@CoinbaseExch) May 22, 2023

Due to the current recognition by the U.S. Securities and Exchange Commission (SEC) that only Bitcoin is not considered a security, Coinbase, known for its extensive token listings, will be forced to withdraw tokens from its platform. This action can be interpreted as a purge of the platform’s tokens.

In addition, the largest cryptocurrency exchange in the United States recently announced its intention to concentrate its efforts in Washington, D.C. Amid the global financial crisis and ongoing regulatory conflicts with U.S. authorities; they are launching a new television campaign titled “Crypto: Bringing America Forward” to promote the future of cryptocurrencies. According to a blog post published on Monday (May 22), the campaign will include television advertisements, events, and numerous promotional activities.

This week, DC will see a new TV campaign that explains how crypto moves America forward and why it’s the most important technology we have to create more economic freedom.

It’s time to update the system.
Crypto can help.

Learn more at https://t.co/6Hf1DAqeIV pic.twitter.com/hmAQuNiA34

— Coinbase 🛡️ (@coinbase) May 22, 2023

The press release states that four commercials will be broadcast on popular Sunday shows over consecutive weekends. These commercials will aim to elucidate the significance of cryptocurrency and its relevance to the United States, providing viewers with an understanding of why it holds importance and how it directly impacts them.

Furthermore, the promotional efforts include a Wall Street mural campaign, a mobile billboard created from an armored truck that will traverse Manhattan and other areas, and a series of advertisements during the NBA playoffs. These initiatives will highlight the historical background of the currency and emphasize the importance of modernizing the financial system, as mentioned in the press release.

The U.S. Securities and Exchange Commission served Coinbase with a Wells notice in March, indicating that it is preparing to recommend formal charges to its five-member committee. Legislators in Washington, D.C., are drafting bills to regulate cryptocurrencies, but it is still being determined which bills will ultimately become law.