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Main crypto change Coinbase has just lately introduced a delisting transfer. In an announcement on X, Coinbase Worldwide Trade, the abroad arm of the crypto change, indicated it will likely be suspending buying and selling for the FTM-PERP pair on Jan. 24, 2025, at round 10:30 a.m. UTC.
The choice impacts each Coinbase Worldwide Trade and Coinbase Superior, marking a big change for merchants of the Fantom perpetual futures contract.
Coinbase said that the ultimate settlement value for FTM-PERP will likely be calculated as the typical index value over the 60 minutes earlier than the suspension of buying and selling. Moreover, the funding charge will likely be set to zero for the ultimate funding interval earlier than the ultimate settlement.
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Any remaining open positions in FTM-PERP will likely be robotically settled on the time of suspension. Therefore, merchants are suggested to shut their positions earlier than the suspension to keep away from computerized settlements. This motion follows as Fantom migrates to a brand new chain known as Sonic.
In August, Fantom introduced its full rebrand to Sonic Labs for the Sonic chain. Whereas separate from Fantom’s Opera community, FTM token holders will be capable of change their tokens 1:1 for S tokens, Sonic’s native token, when the community launches.
Sonic was first introduced in March 2024, and within the months that adopted, quite a few key technological options and initiatives for the brand new chain have been revealed, culminating within the September launch of the Sonic testnet. The Sonic Protocol was launched on the mainnet in December.
Different Coinbase information
In an earlier announcement, Coinbase revealed its determination to droop buying and selling for Dypius (DYP) on Jan. 17, 2025, at or round 2:00 P.M. ET. This motion comes as Dypius will likely be migrating to DYP V2, which isn’t supported by Coinbase.
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Firstly of the week, Coinbase introduced it had disabled buying and selling for BitDAO (BIT), which just lately migrated to Mantle (MNT), which isn’t but supported on the platform.
In separate information, Coinbase introduced that Kusama (KSM), Illuvium (ILV), Oasis (ROSE), Gnosis (GNO) and Metis (METIS) are actually out there to New York residents on Coinbase and within the Coinbase iOS & Android apps, permitting prospects to log in to purchase, promote, convert, ship, obtain or retailer these property.