Dear Vikings!
We have learned about the rumors regarding 'Coinbase delisting FLOKI'.
First of all, this is not true!
Coinbase will not delist FLOKI. Instead, Coinbase is just stopping trading in New York, which some sources say only accounts for 2-5% of Coinbase's total trading volume. It is also worth noting that Floki remains one of the most traded memecoins in the world, while Coinbase as a whole accounts for about 1% of Floki’s total volume daily… Therefore, even if Floki were to be delisted from Coinbase (which is not the case here), the loss in trading volume would still be negligible compared to Floki's overall trading volume.
While we cherish and value every Floki listing in important jurisdictions, it is important to note that these listings are just one factor that helps accelerate the adoption of cryptocurrency projects and ecosystems, and often the smallest factor: cryptocurrencies were originally designed to be decentralized and not reliant on centralized exchanges and gatekeepers.
We have reached out to Coinbase and our legal team for more information regarding the listing and the overall state of New York's crypto policy on memecoins, and we will communicate if any new information allows us to share.
That said, I want to emphasize that Coinbase's decision to stop trading FLOKI and some other memecoins in New York is likely due to New York's very strict and authoritarian anti-crypto regulations. Coinbase only listed 6 memecoins in New York this cycle: BONK, PEPE, WIF, FLOKI, TURBO, and GIGA.
Among these memecoins, BONK, PEPE, and WIF were listed in New York last year, while FLOKI, TURBO, and GIGA were listed in New York at the same time/date 1.5 months ago (announcement: https://x.com/CoinbaseAssets/status/1885069348714185187).
The three memecoins that were listed in New York on the same date/time 1.5 months ago will now stop trading in New York, so this seems more like a general cryptocurrency/memecoin policy issue in New York rather than a Floki-specific problem.
We have also closely monitored the reactions, and it is clear that many in New York are not satisfied with the overall attitude towards cryptocurrency there, which I think is important context to add here.
Just months ago, the Commodity Futures Trading Commission (CFTC) Global Market Advisory Committee (the federal agency that should actually be responsible for regulating cryptocurrency across the U.S.) emphasized that Floki is a great case study for utility tokens—this is particularly noteworthy as they only highlighted four cryptocurrencies in their report at that time: FLOKI, ETH, AVAX, and another cryptocurrency. Therefore, we not only believe that our utility-focused approach is the right one, but it has also achieved recognition at the highest levels, which was a feat unique to FLOKI at that time.
In summary, Floki continues to operate as usual: it remains the only memecoin besides DOGE and SHIB that has survived from the previous cycle in a meaningful way, and it has completely dominated the industry in this cycle. There are 50 states in the U.S., and Coinbase users can still trade Floki in almost all of these states except New York, which may account for less than 0.1% of Floki's total trading volume. Even if Floki were to completely delist from Coinbase (which is not the case!), Coinbase only accounts for about 1% of Floki's total trading volume, which is negligible compared to the astonishing trading volume Floki has maintained throughout the cycle.
Therefore, please ignore FUD and focus on the bigger picture: Floki is the people's cryptocurrency, fundamentally, it remains strong as always, and is actually ready to become even stronger from now on🙏
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The above content is an announcement from Floki core team member Big B, and it is also pinned in the official Chinese community.
If you want to follow the correct news, please follow me first, don’t be misled by others and then get the wrong information!
