Coinbase will suspend Algorand pledge awards from March 29
On March 23rd, Coinbase (COIN) announced that it would no longer provide Algorand token (ALGO) pledge incentives from March 29th. The token can still be used for transactions. A Coinbase spokesperson did not provide a reason for terminating the Algorand award, but stated in an email that “all awards for the Algorand governance period ending March 31 will be paid in early April.”. A spokesman for Coinbase said, “Coinbase cooperates with asset issuers to provide rewards and continuously reassesses our products to ensure the best customer experience. We have decided to discontinue Algorand (ALGO) rewards at this time.”. （CoinDesk）
Interpretation of this information:
Coinbase has announced that it will no longer provide Algorand token (ALGO) pledge incentives from March 29th. While the token can still be used for transactions, the reason for terminating the Algorand award was not stated by a Coinbase spokesperson. However, all awards for the Algorand governance period ending March 31 will be paid in early April, according to the spokesperson. Coinbase regularly reassesses its products to ensure the best customer experience, and in this case has decided to discontinue the Algorand (ALGO) rewards at this time.
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