Coinbase to delist GMO Trust yen stablecoin, sets Monday withdrawal cutoff
AI summary
Coinbase will delist a Japanese yen stablecoin issued by GMO Trust, years after the token's price crash triggered investor lawsuits. Holders who want to avoid market-rate conversion must withdraw before Monday, ahead of GMO Trust's Nov. 11 initial direct-redemption deadline. The move highlights lingering reputational and liquidity risk in yen-pegged stablecoins and could push holders toward alternatives like USDC.
