Overview of Coinbase's Latest Delisting Decision
Coinbase, the leading cryptocurrency exchange in the United States, has revealed plans to delist Status (SNT) from its platform. Trading for SNT will be suspended on February 23, 2024, at approximately 2 PM Eastern Time. This decision follows a routine review process where Coinbase evaluates whether listed assets continue to meet its stringent listing standards.
Why Is Coinbase Delisting SNT?
According to Coinbase's official statement:
"We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Status (SNT)."
Here’s what this means for users:
Trading Suspension: SNT trading will halt across all Coinbase platforms, including:
- Coinbase Simple Trade
- Coinbase Advanced Trade
- Coinbase Exchange
- Coinbase Prime
- Order Restrictions: SNT order books are now in limit-only mode, meaning users can only place or cancel limit orders (no new market orders).
👉 Learn more about Coinbase's trading policies
Broader Context: Recent Delistings in Crypto
This move follows a trend of exchanges reevaluating their asset listings:
- Earlier in February 2024, Coinbase deprecated support for Bitcoin SV (BSV).
Other delistings this year include:
- Aragon (ANT)
- ATA
- DREP
- MONA
- SYLO
Regulatory Pressure and Market Impact
The SEC's lawsuit against Coinbase in June 2023 (accusing the exchange of operating as an unregistered securities platform) has heightened scrutiny. While Coinbase disputes these claims, regulatory uncertainty may be influencing stricter listing reviews.
Where Can You Still Trade SNT?
Status (SNT) remains available on other major exchanges, including:
- Binance
- OKX
- Upbit
👉 Discover alternative trading platforms for SNT
Frequently Asked Questions (FAQs)
Why did Coinbase decide to delist SNT?
Coinbase periodically reviews assets to ensure compliance with its listing standards. SNT no longer meets these criteria, prompting its removal.
What happens to my SNT holdings after delisting?
You’ll retain ownership of SNT tokens, but trading will be disabled on Coinbase. Transfer tokens to a supported wallet or exchange before February 23.
Are other exchanges delisting SNT?
As of now, Binance, OKX, and Upbit continue to support SNT. Always check exchange announcements for updates.
How does limit-only mode work?
In limit-only mode, users can:
- Place limit orders
- Cancel existing orders
- Execute trades if orders match
Market orders (instant buys/sells) are disabled.
Could SNT be relisted in the future?
While possible, relisting would require SNT to meet Coinbase’s standards again. No timeline or guarantees exist for this process.
Key Takeaways
- Delisting Date: SNT trading ends on Coinbase after February 23, 2024.
- Reason: Routine review determined SNT no longer meets exchange standards.
- Action Required: Move SNT holdings to another platform before the deadline.
- Regulatory Trends: Exchanges are tightening listing policies amid SEC scrutiny.
For ongoing updates, monitor Coinbase’s official communications and trusted crypto news sources.