Coinbase shares fell as much as 7% upon announcing in a blog post that it will temporarily pause new Ethereum and ERC-20 token deposits during the Merge.
- Deposit and withdrawl pause is a temporary precautionary measure
- The Merge is the migration from Proof-of-Work to Proof-of-Stake on mainnet
- Ethereum anticipated to complete the Merge on or around September 15
- “We do not expect any other networks or currencies to be impacted and expect no impact to trading for ETH and ERC-20 tokens across our centralized trading products,” blog post says
To view the source of this information, click
To contact ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.