Coinbase has announced that it will suspend trading for 12 perpetual futures contracts on May 21 at approximately 1:00 p.m. UTC. The affected contracts are KAITO-PERP, SENT-PERP, SAHARA-PERP, CAKE-PERP, TOSHI-PERP, AKT-PERP, VET-PERP, ANIME-PERP, THETA-PERP, ZK-PERP, KERNEL-PERP, and BARD-PERP.
The decision, according to Coinbase Markets, comes as part of the exchange's effort to "maintain high-quality derivatives markets," focusing on products that meet liquidity and market-quality standards. While the exchange did not provide token-specific reasons, such delistings typically indicate low trading volume, insufficient liquidity, or compliance reviews.
Traders with open positions must act before the deadline: any positions left open will be automatically settled at the average index price during the 60 minutes leading up to the halt. Coinbase also stated that the funding rate will be set to zero for the final funding period and reserved the right to adjust the final settlement price if necessary. This move affects a diverse array of tokens, from DeFi staples like CAKE (PancakeSwap) to infrastructure projects like AKT (Akash Network) and entertainment-themed tokens like ANIME.
The suspension reflects broader trends in the crypto derivatives market, where exchanges are increasingly scrutinizing low-volume pairs amid growing competition. Coinbase has recently made similar adjustments, including disabling DAI trading and suspending other spot pairs. Traders are advised to close or reduce their exposure before the May 21 deadline to avoid unexpected losses from forced settlements.
