Update
Coinbase to Halt GYEN Transfers and Convert to USDC
Coinbase will halt transfers of the yen stablecoin GYEN on October 26 and convert balances to USDC at market rates from October 26 to October 30. GMO Trust offers direct redemption at one yen per GYEN for eligible, approved customers until November 11. The shutdown marks the final chapter for a stablecoin whose troubled trading history triggered investor lawsuits and resulted in a $6.75 million settlement earlier this year.