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Major cryptocurrency exchange Coinbase recently announced a delisting move. in advertisement On
The decision affects both Coinbase International Exchange and Coinbase Advanced, representing a big change for Fantom perpetual futures traders.
Coinbase He stated that the final settlement price of FTM-PERP will be calculated as the average price of the index during the 60 minutes before trading was suspended. In addition, the financing rate will be set at zero for the final financing period before final settlement.
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Any remaining open positions in FTM-PERP will be automatically settled at the time of suspension. Hence, traders are advised to close their positions before suspension to avoid automatic settlements. This action follows Fantom's transition to a new series called Sonic.
In August, Fantom announced a complete rebranding to Sonic Labs for the Sonic series. While separated from the Fantom's Opera network, FTM token holders will be able to exchange their tokens 1:1 for S tokens, Sonic's native tokens, when the network launches.
Sonic was first announced in March 2024, and in the months since, several key features and technology initiatives for the new series have been revealed, culminating in the launch of the Sonic testnet in September. Sonic Protocol launched on the mainnet in December.
Other Coinbase News
In a previous announcement, Coinbase revealed its decision to suspend trading on Dypius (DYP) on or around January 17, 2025, at 2:00 PM ET. This action comes while Dypius will be migrated to DYP V2, which is not supported by Coinbase.
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At the beginning of the week, Coinbase announced that it had disabled trading for BitDAO (BIT), which recently moved to Mantle (MNT), which is not yet supported on the platform.
In separate news, Coinbase announced that Kusama (KSM), Illuvium (ILV), Oasis (ROSE), Gnosis (GNO), and Metis (METIS) are now available to New Yorkers on Coinbase and in the Coinbase iOS and Android apps, allowing customers to log in To buy, sell, transfer, send, receive or store these assets.
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