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Cryptocurrency exchange Coinbase announced in its official statement that it has decided to stop trading for an altcoin.
Coinbase announced in a statement that it has delisted the Moss Carbon Credit (MCO2) altcoin from its exchange. The altcoin in question was not listed on major cryptocurrency exchanges, including Binance, and could only be purchased through Coinbase among major exchanges.
The market cap of the MCO2 token stood at $4.55 million and was trading 92% below its all-time high of $21.23.
In its statement, Coinbase stated that they always check whether the assets they list comply with listing standards and pointed to the asset's problems as the reason for the delist.
The delisting date of the MCO2 token was determined as 14 November 2023 at 19:00 Turkey time.
The MCO2 token runs on the Ethereum chain and aims to tokenize companies' carbon credits. The company behind the token claimed that it purchased carbon credits from environmental projects such as Amazon Forest.
*This is not investment advice.