The leading South Korean digital asset exchange, Upbit, has announced that it will discontinue supporting the trading of Bitcoin Gold (BTG) on its platform, with the decision taking effect from 12:30 Vietnam time on 23/01/2025.
According to the announcement from Upbit, this decision was made after a comprehensive evaluation of the level of transparency, operational viability, and sustainable development potential of the Bitcoin Gold project. The exchange had designated BTG as a "cautionary asset" since 10/12/2024, due to the discovery of ongoing issues related to project transparency and management. After further review, Upbit concluded that these issues had not been adequately resolved, leading to the decision to discontinue BTG trading support.
- Trading suspension time: 12:30 on 23/01/2025 (Vietnam time).
- Asset withdrawal period: Investors can still withdraw BTG from their wallets until 22/02/2025 (10:30 Vietnam time).
- Order cancellation: All buy/sell orders related to BTG will be canceled immediately after the trading support is discontinued.
- Unsupported services after the announcement: Services such as airdrop, wallet upgrades, or hard forks will no longer be supported.
Upbit recommends that investors withdraw their BTG before 22/02/2025 to avoid risks of being unable to process transactions or experiencing delays in resolving issues with misplaced assets after the deadline.
Bitcoin Gold was once a promising project, aiming to create a more decentralized blockchain compared to Bitcoin, but has gradually lost its appeal due to issues with governance and operational efficiency. Being delisted from Upbit, one of the largest exchanges in South Korea, may put additional pressure on the asset's value and liquidity.
