Coinbase Prime Considers Focus Shift as 49 Altcoins, Including Telcoin, Lose Custody Support by Month-End

  • Coinbase Prime’s recent decision to end custody support for 49 altcoins highlights a strategic pivot amid ongoing market volatility.

  • This significant move affects a mix of lesser-known cryptocurrencies and real estate-linked tokens, with Coinbase aiming to streamline its offerings.

  • According to a post by Coinbase, “Based on recent reviews, we will end custody support for these assets, effective the end of the month,” emphasizing a renewed focus on institutional-grade tokens.

Coinbase Prime will discontinue custody for 49 tokens, focusing on liquid options and institutional needs amid turbulent crypto markets.

Coinbase Prime Ends Custody for 49 Altcoins – A New Direction

This decision marks a significant shift for Coinbase Prime, which aims to optimize its portfolio for institutional investors. As of April 2025, Coinbase Prime will no longer provide custody support for these assets, reflecting a change in strategy to better align with market demands. The company cited ongoing evaluations of their asset offerings, signaling a continuous commitment to maintaining a robust and secure environment for their institutional clients.

Diverse Tokens Affected: Crypto to Real Estate

The list of impacted tokens is quite varied, showcasing a mix of cryptocurrencies and real estate-related assets. Notable cryptocurrencies like BOSAGORA (BOA) and Telcoin (TEL) are included among real estate tokens such as 1717 Bissonnet (1717) and Draper Garland Apartments (GFDG). This underscores Coinbase’s broader operational evaluation, as the exchange looks to support those assets that have proven to be more liquid and stable in the current market landscape.

Market Implications of Coinbase’s Streamlined Approach

As Coinbase Prime addresses its offerings, it remains critical for institutional clients to assess their positions concerning the delisted assets. The necessity to transfer or liquidate holdings before the deadline adds a layer of urgency to institutional strategies. Furthermore, this move raises questions about the future viability of lesser-known tokens in the context of active trading environments, with liquidity and compliance becoming increasingly pivotal.

Coinbase’s Broader Strategy Amid Market Volatility

Coinbase’s alteration in asset support parallels its recent expansion plans. While some tokens like Doginme (DOGINME) and Keyboard Cat (KEYCAT) have recently been introduced to its platform, the broader market has presented challenges, as evidenced by a reported 30% decrease in Coinbase’s stock value in the first quarter of 2025. This juxtaposition of new listings amidst the removal of other tokens reflects a nuanced strategy focused on flexibility and responding to market conditions.

COINBASE PRIME CUSTODY ASSETS

Conclusion

As Coinbase Prime steps back from custody support for 49 tokens, the move illustrates the ongoing adjustments made in response to an evolving cryptocurrency market landscape. This transition highlights a strategic focus on liquidity and meeting institutional standards. Moving forward, stakeholders must closely observe how Coinbase’s changes may influence market dynamics and institutional investment approaches.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Trump Highlights Severe Trade Tensions Between U.S. and Europe Amid Heavy Taxes and Lawsuits

On June 28th, U.S. President Trump highlighted the complex...

Bitcoin Sees Massive 11,770 BTC Outflow from Major CEXs Including Coinbase Pro and Binance

According to the latest data from Coinglass, centralized exchanges...

Bitcoin Spot ETF Sees $2.214 Billion Net Inflow in U.S. as BlackRock Leads with $1.31 Billion

According to data from Farside Investors, the United States...

TRUMP Token Liquidity Pool Drains $6.77 Million in Major Withdrawal, Reports OnChain Lens

According to OnChain Lens data reported by COINOTAG News...

US Senate’s $4.2 Trillion Tax Plan Sparks Debate Ahead of Bitcoin Deadline

The U.S. Senate, under Republican control, has unveiled a...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img