Coinbase will suspend trading for six crypto pairs on August 6, after moving five of them into limit-only mode during its routine review of market quality and trading activity. The exchange says the change keeps its markets efficient, and it separately confirmed new asset listings and an automatic renewal of its Circle partnership.
Coinbase will end trading for six pairs on August 6: LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT, and CRO-USDT. Five of the six were already restricted to limit-only trading before the full suspension takes effect.
Five Pairs Move to Limit-Only Trading First
During the limit-only period, traders can still place and cancel limit orders, and existing orders may still match, but the exchange no longer accepts market orders on the affected pairs. Coinbase said the change follows its regular review of market quality and trading activity.
The exchange monitors liquidity and order book depth across its markets, and pairs with limited activity may be removed to keep trading efficient and limit the wider spreads that low liquidity causes.
Past Reviews Track Compliance and Project Changes
Coinbase has suspended or removed pairs before when they no longer met its listing standards, and past reviews have considered regulatory developments, compliance requirements, and project changes. Function X (FX) is one example: after the project paused its supported smart contract and migrated from the FX ERC-20 token to the new Pundi AI (PUNDIAI) token, Coinbase first moved FX into limit-only mode before announcing its suspension.
The exchange also confirmed three new listings this week. Bio Protocol, BankrCoin, and Treehouse are now available on Coinbase and its mobile apps, letting customers buy, sell, send, receive, convert, and store the assets.
Circle Partnership Renews as Revenue Slips
Coinbase confirmed its commercial agreement with stablecoin issuer Circle will renew automatically after both companies satisfied the contractual renewal conditions. CFO Alesia Haas said the renewal follows the existing agreement despite recent discussion around Coinbase's participation in the Open USD consortium, removing uncertainty over the company's USDC revenue-sharing arrangement.
The company reported second-quarter revenue of $1.22 billion, below the $1.29 billion Wall Street expected, down 14% from the previous quarter as trading activity slowed across several markets. Coinbase shares closed at $146.50, up 0.16%, while the ARK Innovation ETF added 38,761 Coinbase shares, worth about $5.68 million, over the same period.
Source: CoinGape
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