{"id":41687,"date":"2024-11-19T18:48:55","date_gmt":"2024-11-19T18:48:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-will-delist-wrapped-bitcoin-wbtc-next-month\/"},"modified":"2024-11-19T18:48:55","modified_gmt":"2024-11-19T18:48:55","slug":"coinbase-will-delist-wrapped-bitcoin-wbtc-next-month","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-will-delist-wrapped-bitcoin-wbtc-next-month\/","title":{"rendered":"Coinbase will delist Wrapped Bitcoin (WBTC) next month"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/10\/MicroStrategys-endgame-is-to-be-the-leading-Bitcoin-bank-Michael-Saylor-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/10\/MicroStrategys-endgame-is-to-be-the-leading-Bitcoin-bank-Michael-Saylor-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/10\/MicroStrategys-endgame-is-to-be-the-leading-Bitcoin-bank-Michael-Saylor-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/10\/MicroStrategys-endgame-is-to-be-the-leading-Bitcoin-bank-Michael-Saylor-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Coinbase will delist WBTC on December 19, 2024, due to unmet listing criteria.<\/li>\n<li>WBTC will be moved to limit-only mode, with withdrawals still accessible.<\/li>\n<li>Coinbase\u2019s cbBTC, launched in September, has been gaining market share in wrapped Bitcoin.<\/li>\n<\/ul>\n<p>Coinbase, one of the largest cryptocurrency exchanges, has announced it will delist Wrapped Bitcoin (WBTC) from its platforms on December 19, 2024.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent review, Coinbase will suspend trading for wBTC (wBTC) on December 19, 2024, on or around 12pm ET.<\/p>\n<p>\u2014 Coinbase Assets \ud83d\udee1\ufe0f (@CoinbaseAssets) <a href=\"https:\/\/twitter.com\/CoinbaseAssets\/status\/1858921827159945638?ref_src=twsrc%5Etfw\">November 19, 2024<\/a><\/p>\n<\/blockquote>\n<p>The decision will affect all Coinbase services, including Coinbase.com, Coinbase Exchange, and Coinbase Prime, and comes amid ongoing assessments of the exchange\u2019s listing standards.<\/p>\n<p>As part of the transition, WBTC order books have been switched to limit-only mode. This allows users to place, cancel, and match limit orders but restricts other trading functionalities.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We have moved our wBTC order books to limit-only mode. Limit orders can be placed and canceled, and matches may occur. <\/p>\n<p>If you have any questions regarding this update, please visit: <a href=\"https:\/\/t.co\/aZsdyDqkAS\">https:\/\/t.co\/aZsdyDqkAS<\/a><\/p>\n<p>\u2014 Coinbase Assets \ud83d\udee1\ufe0f (@CoinbaseAssets) <a href=\"https:\/\/twitter.com\/CoinbaseAssets\/status\/1858921847007453254?ref_src=twsrc%5Etfw\">November 19, 2024<\/a><\/p>\n<\/blockquote>\n<p>Despite the suspension of trading, Coinbase assured users that WBTC holdings would remain accessible, and withdrawals could be made at any time.<\/p>\n<h2>WBTC doesn\u2019t meet Coinbase\u2019s listing criteria<\/h2>\n<p>In its statement, Coinbase noted that the move was a result of its latest review, which suggested WBTC no longer meets its listing criteria.<\/p>\n<p>While no specific reasons were disclosed, the announcement emphasizes Coinbase\u2019s commitment to maintaining regulatory compliance and providing high-quality assets for trading.<\/p>\n<p>Notably, the delisting comes just months after Coinbase launched its own wrapped Bitcoin token, Coinbase Wrapped Bitcoin (cbBTC).<\/p>\n<p>Introduced in September 2024, cbBTC is an ERC-20 token fully backed 1:1 by Bitcoin held in Coinbase\u2019s custody. It offers integration with decentralized applications (dApps) across networks like Ethereum, Base, and Solana.<\/p>\n<p>CbBTC has quickly gained traction, reaching a market capitalization of $1.3 billion and a circulating supply of over 15,000 tokens. The majority of cbBTC tokens\u201482%\u2014are on Coinbase\u2019s Base network, with the rest distributed across Ethereum and Solana.<\/p>\n<p>The rising popularity of cbBTC positions it as a strong competitor to WBTC in the DeFi ecosystem.<\/p>\n<p>While WBTC has historically been the most widely used wrapped Bitcoin token in decentralized finance (DeFi), Coinbase\u2019s move could signal a shift in market dynamics. If other exchanges follow suit, WBTC could face further declines in adoption.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/coinbase-will-delist-wrapped-bitcoin-wbtc-next-month\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Coinbase will delist WBTC on December 19, 2024, due to unmet listing criteria. WBTC will be moved to limit-only mode, with withdrawals still accessible. Coinbase\u2019s cbBTC, launched in September, has been gaining market share in wrapped Bitcoin. Coinbase, one of the [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":41688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41687"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=41687"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/41688"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=41687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=41687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=41687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}