One of the largest U.S.-based cryptocurrency exchanges, Coinbase, has just announced a decision that has left investors stunned. The exchange is set to suspend trading for three popular memecoin in New York. With uncertainty in the air, market reactions have already started to show as coin prices have seen a sharp drop in value.
Coinbase to Suspend Trading for 3 Crypto
Coinbase has announced that it will suspend crypto trading for three cryptocurrencies including FLOKI (FLOKI), Turbo (TURBO), and Gigachad (GIGA) in New York. This decision follows a routine review of the assets listed on the exchange to ensure they meet regulatory and compliance standards.
The suspension will take effect on April 14, 2025, at around 2 PM ET. While the trading halt will apply only in New York, users in other regions will not be affected. However, this move has raised concerns among traders about the future availability of these tokens in the U.S.
Why Is Coinbase Suspending These Tokens?
Coinbase frequently reviews the assets available on its platform to ensure they align with its listing standards. While the exchange did not provide specific reasons for suspending these tokens in New York, it may be due to regulatory rules, legal risks, or liquidity concerns.
However, New York has some of the strictest crypto regulations in the U.S., making it challenging for certain digital assets to remain compliant.
Given this environment, it’s possible that FLOKI, TURBO, and GIGA no longer meet the necessary criteria for trading within the state.
Token Price See Strong Volatility
Following this news the token price has seen a sharp drop ad, Floki’s price dropped by 1%, while Gigachad saw a drop of 13%. Outperforming the other two coins the TURBO coin has seen a surge of 3.5% in a day. This shows that traders are not completely reacting strongly to the news.
