Coinbase Suspends Perpetual Futures Trading for 10 Cryptocurrency Contracts
Coinbase has announced that it will suspend perpetual futures trading for 10 cryptocurrency contracts on August 26, at around 13:00 UTC. The affected contracts include MEME, SAND, BIRB, BLUR, KAT, SPX, ZORA, AXS, AI, and ZRO.
The suspension is intended to provide a more orderly reference price during the transition, as perpetual futures trading can be sensitive to market conditions. Coinbase will automatically settle all open positions in the affected contracts at the time of suspension, using a 60-minute average index price leading up to the deadline.
It's worth noting that the suspension does not automatically mean that the underlying tokens will be removed from Coinbase's spot market. The exchange has emphasized that traders should review their accounts carefully to determine whether they have open positions or outstanding orders associated with the affected contracts.