Major cryptocurrency exchange Coinbase has revealed plans to suspend trading for three meme-inspired digital assets—Floki (FLOKI), Turbo (TURBO), and Giga Chad (GIGA)—exclusively in New York starting April 14, 2025, at 2:00 PM ET. The decision stems from a routine compliance review to ensure adherence to the platform’s listing standards.
Key Details of the Delisting
Affected Assets:
- Floki (FLOKI): A meme coin inspired by Elon Musk’s Shiba Inu dog, down 4% at press time.
- Turbo (TURBO): Marketed as "the first AI-created memecoin."
- Giga Chad (GIGA): A Solana-based meme coin, which dropped 17% post-announcement.
- Platforms Impacted:
Trading suspensions apply to Coinbase Simple/Advanced Trade, Coinbase Exchange, and Coinbase Prime for New York users. - Reasoning:
Coinbase emphasized its commitment to maintaining "listing standards" through periodic reviews. Notably, these tokens were only recently added to the platform (FLOKI in November 2024; TURBO and GIGA in December 2024), making the delisting unexpected.
Broader Context: Coinbase’s Recent Moves
New Listings
Amid delistings, Coinbase continues expanding its supported assets:
- Maple Finance (SYRUP) and Aethir (ATH): Both ERC-20 tokens, set to go live on March 13, 2025, pending liquidity conditions.
- RedStone (RED): Now available with an "experimental" label on Coinbase’s mobile apps.
Regulatory Expansion
Coinbase recently registered with India’s Financial Intelligence Unit (FIU), paving the way for its retail platform launch in India later this year. This aligns with competitors like Binance and KuCoin, which also secured FIU approval.
👉 Explore crypto trading strategies to adapt to exchange updates like these.
FAQs About Coinbase’s Delisting
1. Why is Coinbase delisting these tokens only in New York?
New York’s stringent BitLicense regulations likely prompted the localized action. Coinbase may have identified compliance gaps specific to NY laws.
2. Can users outside New York still trade FLOKI, TURBO, and GIGA?
Yes. The suspension only applies to New York-based accounts. Other U.S. and international users remain unaffected.
3. What should holders of these tokens do before April 14?
Consider:
- Selling or transferring assets to a non-Coinbase wallet.
- Monitoring alternative exchanges (e.g., OKX, Kraken) for continued trading access.
4. Will Coinbase compensate users for losses?
No. Exchanges typically disclaim liability for market fluctuations tied to delistings.
5. How often does Coinbase review listed assets?
Reviews are routine but irregular. Factors include regulatory changes, liquidity, and project viability.
👉 Stay updated on crypto regulations to anticipate future exchange actions.
Market Reactions and Analyst Insights
The delisting news triggered immediate price drops:
- GIGA: -17% (24-hour period).
- FLOKI/TURBO: Minor declines amid broader meme coin volatility.
Wu Blockchain noted the irony of tokens being delisted shortly after their listing, hinting at potential undisclosed compliance issues.
Final Thoughts
Coinbase’s move underscores the volatility of meme coins and the importance of regulatory agility in crypto. Traders should:
- Diversify holdings beyond speculative assets.
- Use tools like CoinGecko to track exchange support changes.
Always conduct independent research before investing in cryptocurrencies.