Coinone Places Trust Wallet Token on Delisting Watchlist Amid Regulatory Scrutiny
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Regulatory Scrutiny Intensifies: South Korean exchange Coinone's decision to place Trust Wallet Token (TWT) on a delisting watchlist signifies serious concerns regarding its compliance, which is expected to impact its market performance and user confidence.
- Deposit Suspension Notice: Coinone will suspend TWT deposits starting at 7:00 a.m. UTC on December 30, 2024, compelling holders to adjust their investment strategies in a short timeframe to mitigate potential risks.
- Significant Market Reaction: Following the announcement, TWT's trading volume surged by 180% within two hours, yet its price fell by approximately 8.5%, indicating the market's heightened sensitivity to exchange listing statuses.
- Compliance Assessment Standards: Coinone employs six critical criteria for token evaluation, including transaction volume stability and wallet security, with TWT reportedly falling short in these areas, potentially leading to stricter regulatory challenges.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
