Coinbase Halts IoTeX Trading Amid User Access Concerns

Coinbase has halted trading for IoTeX ($IOTX), citing concerns over user access and withdrawals.

The exchange stated that users can still access their balances and that withdrawals remain open, but trading is currently suspended.

In response to the move, the IoTeX Foundation announced it will provide a 1:1 conversion for its former ERC20 token on Coinbase.

IoTeX's value has declined significantly over the past year, with a drop of approximately 85% in that time period.