Coinbase International Exchange has suspended trading for the FTM-PERP perpetual futures pair. The delisting will take effect on January 24, 2025, at approximately 10:30 a.m. UTC. This decision will impact Coinbase International Exchange and Coinbase Advanced, signaling a significant change for traders using Fantom perpetual futures.
Also Read: XRP’s Steady Rise Amid Market Turbulence Sparks Optimism for a Potential Breakout
Details of the FTM-PERP Delisting
Coinbase clarified that the final settlement price for FTM-PERP will be determined based on the average index price during the 60 minutes preceding the suspension of trading. The funding rate will also be zero for the last funding period before the final settlement. Any remaining open positions will be settled automatically during suspension to ensure a smooth transition. Coinbase reserves the right to adjust the final settlement price to a reasonable level, if necessary, ensuring fairness for all affected traders.
Other Recent Asset Updates on Coinbase
Dypius (DYP) Suspension for Migration
Coinbase recently announced the suspension of trading for Dypius (DYP) on January 17, 2025, at approximately 2:00 p.m. ET. This move aligns with Dypius migrating to its new version, DYP V2, which Coinbase does not currently support.
Trading Disabled for BitDAO (BIT)
Earlier in the week, Coinbase disabled trading for BitDAO (BIT) following its migration to Mantle (MNT). The Mantle token is not yet supported on the Coinbase platform, which is leading to this decision.
New York Residents Gain Access to Additional Assets
In a positive development, Coinbase has expanded its asset offerings to include Kusama (KSM), Illuvium (ILV), Oasis (ROSE), Gnosis (GNO), and Metis (METIS) for residents of New York. These assets are now discoverable on the Coinbase iOS and Android apps, meaning users can buy, sell, convert, send, receive, or store these tokens. This expansion matches Coinbase’s strategy of offering more access to multiple assets across main markets.
Strategic Moves Reflect Platform Adaptation
The recent asset updates and trading suspensions highlight Coinbase’s adaptability to an evolving cryptocurrency market. While some assets like FTM-PERP, DYP, and BIT are being removed due to operational or migration-related reasons, Coinbase is simultaneously expanding its offerings to include new and popular tokens for its user base. These decisions ensure the platform remains competitive and relevant while prioritizing compliance and user accessibility.
Conclusion
Coinbase’s latest announcements emphasize its dual approach to streamlining operations while expanding asset access for its global users. The suspension of trading for FTM-PERP and other assets demonstrates the platform’s focus on maintaining operational efficiency. At the same time, introducing new tokens in New York underscores its efforts to provide a diverse and user-friendly experience. As the cryptocurrency industry evolves, Coinbase remains a critical player in shaping the future of digital asset trading.
Also Read: Senate Banking Committee Establishes Subcommittee on Digital Assets to Shape Crypto Legislation
