Coinbase Breaks Bad News for One of the Most Talked Altcoins of the 2021 Bull – Those Who Dont Withdraw Their Holdings Will Have...

According to the latest statement made by Coinbase, the exchange will not support the Celo (CELO) hard fork that will take place shortly.

In the statement, it was reported that the migration that will cause Celo to transform from the layer 1 ecosystem to the layer 2 ecosystem will not be supported by Coinbase, and that when the migration in question occurs, block production of the layer 1 network will be stopped.

According to the exchange, the cessation of block production means that investors who do not withdraw their assets from Coinbase by the date of the hard fork will no longer have their assets accessible. Coinbase has asked investors to withdraw their CELO holdings by January 13, 2025 to avoid losing their assets.

On the other hand, Celo's ticker on Coinbase is listed as CGLD, not CELO.

It is not yet clear whether this will mean that CELO will be de facto delisted from Coinbase or whether the exchange will relist the hard-forked token in the future.

*This is not investment advice.