Coinbase Delists 5 Cryptocurrencies: Withdrawals Still Open

New day, new shakeup in crypto. Coinbase, one of the biggest cryptocurrency exchanges in the world, has decided to delist five digital assets. The move comes shortly after a major security incident involving the platform.

Let’s break down what’s happening and what it means for users.

The Tokens Being Removed

Here are the five tokens Coinbase is removing from its platform:

• Galxe (GAL)
• Parsiq (PRQ)
• Mines of Dalarnia (DAR)
• Litentry (LIT)
• Orion Protocol (ORN)

These coins can no longer be bought or sold on Coinbase. However, if you hold any of them, don’t panic. Withdrawals are still open.

You can move your tokens to another wallet or another exchange where they are still listed. Coinbase has made it clear that it won’t lock users out from accessing these assets.

That’s an important move, especially with security concerns on the rise.

Why Is Coinbase Doing This?

Coinbase says it regularly reviews the digital assets listed on its platform. The goal is to make sure each token continues to meet its internal listing standards. After its latest round of checks, these five tokens didn’t make the cut.

The exchange didn’t offer detailed reasons for each removal. But analysts believe the decision likely comes down to a few key factors:

• Low trading volume
• Weak developer activity
• Potential regulatory risks
• Unclear long-term sustainability

Exchanges don’t take these decisions lightly. Delisting a coin can upset users and damage the reputation of the token. But Coinbase appears focused on maintaining a tighter level of control. Especially after its recent security breach.

A Quick Look at the Data Breach

This delisting follows hot on the heels of a disturbing security breach. Reports indicate that hackers demanded $20 million, but Coinbase didn’t give in.

Instead, Coinbase CEO Brian Armstrong flipped the script. He turned the demand into a $20 million bounty. The reward is for anyone who can help track down those responsible for the attack.

That bold response sent a strong message. Coinbase is not willing to cave in. It’s prioritising safety and transparency, and this wave of delistings could be part of that push.

Even before this latest move, Coinbase had already suspended trading for Movement (MOVE). That was just days before this batch of five more coins got the boot.

It looks like Coinbase is cleaning house, and it’s doing it fast.

What Happens to Holders?

If you hold any of the five tokens: GAL, PRQ, DAR, LIT, or ORN, here’s what you need to know:

• You cannot buy or sell these tokens on Coinbase anymore.
• You can still withdraw them at any time.
• You can store them in your Coinbase wallet.
• You can send them to another exchange where the token is still supported.

Coinbase has also confirmed that there’s no timeline or deadline to withdraw these tokens. That gives users some breathing room to decide what to do next.

However, if you’re holding a large amount of any of these assets, it’s smart to act sooner rather than later. Prices may also fluctuate as the delisting news spreads.

A Closer Look at “Limit-Only” Mode

Before full delisting, Coinbase typically enters a limit-only trading phase. That already happened for these five tokens.

In limit-only mode, users could still place limit orders. That means setting a specific buy or sell price. But other types of orders, like market orders or stop-losses, were disabled.

This gives traders a bit of time to adjust. But it also signals that full removal is on the way.

Now that the full delisting has happened, trading is completely disabled. The only option left is withdrawal.

Why This Matters

Delistings don’t just affect a few coins. They send a message to the entire ecosystem. Exchanges are becoming more selective. Security, regulation, and long-term project health are all under tighter scrutiny.

This can be good for the market as it protects users from bad actors. However, it can also shake confidence if projects get removed without clear explanations.

That’s why it’s important for users to stay informed. If you’re invested in smaller or newer projects, always keep an eye on their activity and exchange listings.

You don’t want to be caught off guard.

The Bigger Picture for Coinbase

Coinbase is clearly tightening up. It has to. The platform is under more pressure than ever.

From global regulators to hackers, the challenges keep coming. Coinbase is responding with stricter policies, quicker enforcement, and bold public statements.

The delisting of these five tokens is just one piece of a larger trend. We could see more tokens removed in the coming weeks or months.

The company’s message is simple: security first, and only strong, compliant projects will stay.

What Should You Do Next?

If you hold any of the delisted tokens, take action now. Here are a few steps:

• Check your balances
  Log into Coinbase and see if you have any GAL, PRQ, DAR, LIT, or ORN.
• Review your options
  Look at other exchanges where these tokens are still listed. Binance, KuCoin, or decentralised exchanges may still support them.
• Decide on your strategy
  Do you want to hold long term? Sell? Swap for something else? Plan based on your own risk tolerance.
• Move your assets
  Withdraw to another platform or to a private wallet. Just make sure you trust the destination.
• Stay alert
  Watch for more delistings. Follow Coinbase updates closely. The landscape can shift fast.

Final Thoughts

This latest move from Coinbase is a reminder of how fast the crypto world can change. One week, a token is available to trade, the next, it’s gone from the biggest exchange in the U.S.

But it’s not just about coins. It’s about trust, regulation, and the future of crypto. Coinbase is choosing to focus on security and standards, and it’s doing so in a very public way.

Whether you agree with the decision or not, one thing is clear. The days of “list it and forget it” are over. Exchanges are evolving, and as a user, so should you.

Always be ready and stay informed because in crypto, nothing stays still for long.