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Coinbase, the largest cryptocurrency exchange in the United States, recently decided to delist Celo (CELO), which was planning a migration from its layer 1 blockchain feature to a layer 2 blockchain feature.
The exchange had given its users until January 13, 2025 to withdraw their funds from the exchange. However, there were some unexpected developments after this announcement. Celo postponed the migration decision to a later date in 2025.
Along with the postponement decision, Coinbase also published a new announcement, stating that the delisting decision has also been postponed and that Coinbase will continue to evaluate Celo’s future on the platform.
It is not known whether Celo postponed its migration as a result of the developments with Coinbase.
According to Coinbase’s official statement, CELO will not be delisted for now and the last withdrawal announcement on January 13, 2025 will also be considered invalid. Users will continue to buy, sell, deposit and withdraw CELO via Coinbase for now.
The decision to delist Celo was met with backlash from the community, however, Coinbase could still delist the token once the migration is complete.
*This is not investment advice.
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