Coinbase expanded XLM and LINK trading to New York residents after regulatory approval. Both tokens were previously unavailable in the state due to strict financial regulations, but are now accessible alongside other US jurisdictions.
Coinbase announced it has made Stellar (XLM) and Chainlink (LINK) available for trading to New York residents, expanding access after initial US rollouts in March and June respectively. New York's stringent financial regulators had previously blocked both tokens from the state, similar to how Binance is avoiding the region. The announcement had minimal market impact, with XLM rising 11% to $0.06 and LINK initially gaining before falling 3% to $1.70, suggesting the 'Coinbase effect' on token prices is weakening.