Binance Delists Coinbase Stablecoin USDC Trading Pairs

[cheezcarls]

In a surprise move, Binance has delisted multiple trading pairs with Coinbase’s stablecoin USDC. The given reason was “low liquidity,” but there’s speculation that it is due to competition with Binance’s U.S. branch.

All USDC trading pairs will be removed from Binance starting tomorrow, according to a new announcement made by the exchange. The move effectively weakens the world’s second-largest stablecoin, USD Coin (USDC), on Binance. In total, five trading pairs will be delisted: ALGO/USDC, FTM/USDC, ONT/USDC, XLM/USDC, and USDS/USDC.

Click here to read the rest of the news

To me, this was an unexpecting move by Binance exchange. I'm a bit surprised about the USDC delisting.

Normally, coins are getting delisted for not having enough trading volume, low liquidity or if they are involved in such scamming or "not so good" activity in the eyes of these exchanges.

Even BSV and other top coins/tokens in CoinMarketCap last year wasn't exempted for getting delisted in such exchanges. What do you think about Binance's recent move about delisting Coinbase's USDC?

Any reaction for this one guys?

[pragna]

I think this is lame excuse here on behalf of Binance. Actually every exchanger has their own future plan to establish and compit market. So it may be their any plan to compition with another exchanger. By the way, i think it will not come any negative influence on market.

[piebeyb]

too much stablecoin does not have a good effect on bitcoin and crypto in my opinion, removing Usdc just because of low liquidity seems strange, there may be other reasons also to delete usdc may be because stablecoin competition is increasing lately, if I'm not mistaken it looks like binance also has stabelecoin BUSD, I think maybe that is another reason to delete all Stablecoin there later and focus on BUSD, so there is no Stablecoin anymore in binance except hers, just I think the rest might be better if someone knows, but basically it will not adversely affect the market. crypto

[oktana]

since late last year binance has been doing this activity, so i am not surprised.

but if it is related to exchange policy standards with other exchange coins, that also makes sense, as they continue to maintain how the volume of bnb and busd pairs can be effective and growing, binance spot trading volume has been weakening since launching futures options. It's likely they will also do the same for other stable coins besides tether to prevent things from getting worse.

[Teraboy]

I agreed with the indication for the main reason that already stated in the article as it should be caused by the competition.

As far as i know if USDC has a very good daily trade volume but it looks like binance is seeing the gap between BUSD and USDC as the main reason to delist USDC. 

Look at how the daily trade of USDC on binance is much bigger compared with BUSD. it's not about the competition between coinbase and Binance US but the stable coins that already created by both of platforms too.

[o48o]

In a surprise move, Binance has delisted multiple trading pairs with Coinbase’s stablecoin USDC. The given reason was “low liquidity,” but there’s speculation that it is due to competition with Binance’s U.S. branch.

All USDC trading pairs will be removed from Binance starting tomorrow, according to a new announcement made by the exchange. The move effectively weakens the world’s second-largest stablecoin, USD Coin (USDC), on Binance. In total, five trading pairs will be delisted: ALGO/USDC, FTM/USDC, ONT/USDC, XLM/USDC, and USDS/USDC.

Click here to read the rest of the news

To me, this was an unexpecting move by Binance exchange. I'm a bit surprised about the USDC delisting.

Normally, coins are getting delisted for not having enough trading volume, low liquidity or if they are involved in such scamming or "not so good" activity in the eyes of these exchanges.

Even BSV and other top coins/tokens in CoinMarketCap last year wasn't exempted for getting delisted in such exchanges. What do you think about Binance's recent move about delisting Coinbase's USDC?

Any reaction for this one guys?

This seems more like a tactical move, i don't buy the low liquidity excuse. I think that this is just a manifestation of that happens behind the curtains and relations between these exchanges. Could be a power move from Binance responding on something that Coinbase did or didn't do, like maybe didn't list bnb.

[DaMut]

I think this is lame excuse here on behalf of Binance. Actually every exchanger has their own future plan to establish and compit market. So it may be their any plan to compition with another exchanger. By the way, i think it will not come any negative influence on market.

how is it lame? they have their own stablecoin and they let people use other stablecoin on their platform? for me, it is a smart move to increase their stablecoin liquidity.
in order to survive in the competition, they need to think of a way to increase the volume of their stablecoin and letting people to use their product instead of others because people are using their platform. in business, something like this is very normal.

[Kyraishi]

I mean perhaps the competition does play a role.

But anecdotally I've never really seen much trading volume out of the USDC pair compared to something like the USDT pair. And it make no sense from Binance's point of view to maintain 3 or 4 (can't remember exactly) stablecoin markets at once and having to keep an eye over all of them.

So the decision is probably multifactored and can't be attributed to competition alone.

[masterrex]

In a surprise move, Binance has delisted multiple trading pairs with Coinbase’s stablecoin USDC. The given reason was “low liquidity,” but there’s speculation that it is due to competition with Binance’s U.S. branch.

All USDC trading pairs will be removed from Binance starting tomorrow, according to a new announcement made by the exchange. The move effectively weakens the world’s second-largest stablecoin, USD Coin (USDC), on Binance. In total, five trading pairs will be delisted: ALGO/USDC, FTM/USDC, ONT/USDC, XLM/USDC, and USDS/USDC.

Click here to read the rest of the news

To me, this was an unexpecting move by Binance exchange. I'm a bit surprised about the USDC delisting.

Normally, coins are getting delisted for not having enough trading volume, low liquidity or if they are involved in such scamming or "not so good" activity in the eyes of these exchanges.

Even BSV and other top coins/tokens in CoinMarketCap last year wasn't exempted for getting delisted in such exchanges. What do you think about Binance's recent move about delisting Coinbase's USDC?

Any reaction for this one guys?

Who cares at all as far as i know its a binance right as a company to remove/delist any listed coins/tokens that base on their assessment its not performing or productive anymore its a company's action so anyone has nothing to do about it, maybe its about the competition or something else, i think USDC delisting is not a important matter since if you examine the binance stablecoin trading pairs still you can pick of your choice if you want! btw i never used another stablecoin aside from USDT so its not important to me either. 

[CryptoVzla]

i think its because to low volume of people using that stablecoin, the stablecoin only can be cash out on coinbase platform which the fees is to high for new traders,
i dont think small or new traders can afford the fee of withdrawls on coinbase, binance is doing great so far, there still have other stable coin on binance like usdt that having very good of trading volume.. i dont really mind if they delist the usdc

[LuckyBtc]

It would be surprising if USDC itself were to be delisted. Binance is only removing coins that don't get enough trading volumes in USDC pair. I don't even trade or knew up until now those pairs existed lol.

[Flux0z]

Binance is known for not caring about anything else than their own business. They get rid of ALL the competition they can, which is why they refused to list Blocknet, and even questioned them about how their DEX works, etc. just so they could use all their tech and ideas on their own DEX.

Source: https://www.youtube.com/watch?v=JSCAelH_iuk

I'm really not a fan of Binance. Neither should any of you guys be. Hopefully decentralized trading will be the norm in the future. 

[TanakabZX]

A matter of fact I don't trust or will i ever trust coinbase again, they rip me off last night, after depositing some btc on my coinbase acc i was blocked out and after sending help request to team they failed to help me

[SquallLeonhart]

They probably didn't want to deal with american laws getting into their exchange if USDC was proper for the us laws. Keeping those pairs would have meant they would have to lawyer up and deal with many issues that comes with USDC and there is no need for such a thing, this is the same exchange that is not accepting american users for example, they can still use it but with their own caution as well. So getting a stablecoin based in usa delisted makes sense for a bit.

I was actually more surprised they listed it to begin with than them delisting it because they knew what they were getting into when they first listed it and they listed anyway but now delisting, there was no reason to list it to begin with if you ask me. Anything USA doesn't go well with binance.