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Coinbase Cited Lower Use of XRP, BCH ETC For Delisting  

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  • Coinbase has more than 170 crypto assets available on its platform for trading. 

Coinbase is a cryptocurrency exchange developed in June 2012 in San Francisco, California, U.S it is ranked among the best and biggest cryptocurrency exchanges globally.  

Coinbase is one of the most secure crypto exchanges that offer the trade of crypto assets, including selling, purchasing and storing assets in wallets. 

According to recent news, Coinbase has delisted several giant crypto assets, including XRP, the native token of Ripple, the seventh largest crypto token in the crypto market in market capitalization.

As per the official announcement of Coinbase, it is noted that the wallet will not support BCH, ETC, XLM, or XRP exchanges took this step because they found that these specific tokens have less usage on the platform. 

Coinbase is quite similar to other wallets of the crypto sectors like MetaMask and many more. Still, it has a wide range of crypto assets listed on its platform compared to any other crypto exchange. 

The announcement of Coinbase makes it clear that the following assets will not be available for trading on the platform from January 2023. However, the users can recover them using the recovery phase. 

Coinbase has more than 73 million users globally, and Coinbase is working in more than 100 countries. Recently Coinbase has appointed four new executives to their team to expand their business in Europe. 

Coinbase has appointed Michael Schroeder as the director of control for Germany and Cormac Dinan as the country director for Ireland. Earlier, Schroeder was working with the Bittrex crypto trading platform as chief compliance and risk officer, and Cormac was serving as general manager with Crypto.com in Ireland.  

Coinbase has promoted two of its old employees Elke Karskens now will hold the position of country director of Coinbase in the United Kingdom, and Patrick Elyas is being promoted and will now serve as the market expansion director in Europe, the Middle East and African Region. 

Recently the author of the popular book Black Swan Nassim Taleb reacted to Coinbase’s downfall in the crypto market. Nassim tweeted the largest US-based cryptocurrency company is “worthless.” “My point is that they are cash-flow negative, with a grisly future and owners have been getting out,” Nassim added.

Steve Anderrson
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