Coinbase has announced that it will suspend and delist 10 perpetual futures contracts on August 26, affecting a diverse group of crypto assets. The contracts set for removal include Memecoin (MEME), The Sandbox (SAND), Moonbirds (BIRB), Blur (BLUR), Katana (KAT), SPX6900 (SPX), ZORA (ZORA), Axie Infinity (AXS), Gensyn (AI), and LayerZero (ZRO).
According to Coinbase, trading in these futures will be halted, and any positions that remain open at the close of trading will be automatically settled. The final settlement price will be based on the average index price during the 60-minute period before trading is suspended. Coinbase also stated that the funding rate for the final funding period on the affected contracts will be set at zero.
The delisting is part of the exchange's ongoing review of its derivatives offering, which evaluates trading volume, liquidity, risk management, and regulatory compliance. The move comes amid increased scrutiny of crypto derivatives by U.S. regulators such as the CFTC and SEC, and follows similar trims by other major exchanges including Binance and Kraken.
For traders, the decision means open positions in the affected perpetual futures must be closed or managed before the deadline. While the immediate broader market impact is expected to be limited, delistings of tokens with active communities like SAND and AXS can lead to short-term volatility in those assets.
