Coinbase to Suspend $FLOKI, $TURBO, $GIGA Trading in NY

Coinbase took to X Wednesday to announce that based on its recent reviews of listed meme coins, trading for FLOKI, TURBO, Gigachad (GIGA) will be suspended in New York only on April 14, 2025, on or around 2 PM ET.

Crypto exchange Coinbase will suspend trading for FLOKI, TURBO, and GIGA in New York only on Thursday, on or around 2 PM ET.

The exchange took to X to announce the news, adding that it regularly monitors the assets on its exchange to ensure that they meet its 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.

We regularly monitor the assets on our exchange to ensure that 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 Thursday, 14 April, at or around 2 PM ET.

— Coinbase (@coinbase) April 14, 2025

In an article on its website discussing digital coin listings, Coinbase has provided the following points for how it measures coins for listing:

Coinbase added that it also reviews the team and entity/entities behind a crypto asset, as well as fundraising activities and investors around the project, and potential risks associated with the asset itself or the protocol.

Crypto Users Decry Coinbase's Latest Move

Prominent crypto YouTuber Wendy O was among those who questioned Coinbase on its decision to delist FLOKI, the sixth-largest meme coin by market value as per CoinGecko data.

She also said New York should "do better" in its crypto regulations, suggesting that the city's regulatory hurdles may have affected Coinbase's review of the FLOKI coin.

Another prominent trader and Bitcoin maximalist said FLOKI "shouldn't be in the same category" as GIGA and TURBO, since it can be considered a dino memecoin, meme tokens that have been in the market for several years.

Iced, a well-followed Solana (SOL) user, said "meme coin supercycle has been cancelled" due to Coinbase's announcement, referring to the much-anticipated market period wherein meme tokens surge dramatically compared to Bitcoin and major altcoins.

"Exchanges were so quick to make money on memes and now that they slow down they get rid of them," said the well-followed IncomeSharks account.

Another user agreed, saying Coinbase made a lot of money from meme tokens but is now "gradually laying them off as bear market is unfolding."

Coinbase has yet to respond to increasing concerns about the matter.