Coinbase, the leading centralized exchange in the United States, is suspending certain memecoins from its platforms for New York-based users, less than two months after listing them. The exchange added memecoins GIGA and TURBO to its listing roadmap on Dec. 4, when the tokens traded at $500 million and $600 million valuations, respectively. By the time the tokens were listed in New York on Jan. 30, GIGA had rallied 30% to a $660 million valuation, but TURBO had fallen by 33% to $400 million. Since the listings, GIGA is down 82% to a $120 million market capitalization, and TURBO is down another 63% to $145 million. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
