Coinbase to Suspend Trading for 3 Popular Memecoins in New York – Here’s Why

coinbase coinbase - [email protected] WalletCentralised Exchange , one of the largest U.S.-based cryptocurrency exchanges, has made a decision that surprised investors. The exchange is suspending trading for three popular memecoins in New York, creating uncertainty in the market. As a result, the affected tokens have already seen sharp price swings.

Three Memecoins to Be Delisted in New York

Coinbase announced that it will suspend trading for FLOKI (FLOKI), Turbo (TURBO), and Gigachad (GIGA) in New York. This decision comes as part of the exchange’s routine asset review to ensure all listed tokens meet regulatory and compliance standards.

We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for FLOKI (FLOKI), Turbo (TURBO), and Gigachad (GIGA) in New York only on April 14, 2025, on or around 2 PM ET.

— Coinbase Assets 🛡️ (@CoinbaseAssets) March 12, 2025

The suspension will take effect on April 14, 2025, at 2 PM ET. While this only applies to users in New York, traders are now questioning whether these tokens could face further restrictions in the U.S.

Why Is Coinbase Removing These Tokens?

Coinbase regularly reviews its listings to ensure they meet compliance and risk standards. While the exchange did not provide a specific reason for suspending these tokens, possible factors include regulatory concerns, legal risks, or liquidity issues.

New York has some of the toughest crypto regulations in the U.S., making it difficult for certain tokens to remain compliant. Given these strict rules, FLOKI, TURBO, and GIGA may no longer meet the state’s trading requirements.

Market Reaction

Following the announcement, the affected tokens saw mixed price movements. FLOKI dropped by 1%, while Gigachad fell 13%. However, TURBO went against the trend, rising 3.5% in a day.

The price swings suggest that while some traders are selling in reaction to the news, others are taking advantage of the volatility.

Today’s setback could be tomorrow’s opportunity—if traders play their cards right.