Five pairs enter limit-only mode now; all six halt Aug. 6. Coinbase also renewed its Circle USDC deal and added three new tokens while reporting a Q2 revenue miss.
Coinbase will halt trading in six cryptocurrency pairs on August 6 after a routine review of market quality and liquidity. The affected pairs are LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT, and CRO-USDT, the exchange said.
Five of the six have already been moved to limit-only mode on Coinbase Exchange and Coinbase Advanced. In that mode, traders can place or cancel limit orders, and existing limit orders may still match. Market orders are not accepted. The pair LSETH-ETH is not in limit-only mode, the company said, though it will be suspended on the same date.
Coinbase said the decision came from its standard listing review, which checks whether a market still meets its trading standards. The exchange looks at liquidity, volume, and order book depth. Pairs with weak activity can be cut to keep spreads tight and trading conditions efficient, the company said.
It is not the first time Coinbase has used this process. The exchange previously put Function X (FX) into limit-only mode before delisting it after the project migrated from its ERC-20 token to a new token called Pundi AI (PUNDIAI). Coinbase has also cited compliance rules, regulatory changes, and project updates as reasons for past delistings.
While removing those six pairs, Coinbase has been adding new tokens. It recently listed Bio Protocol (BIO), BankrCoin (BNKR), and Treehouse (TREE), letting customers buy, sell, transfer, convert, and store them through Coinbase and its mobile app, the exchange said.
Separately, Coinbase confirmed that its commercial partnership with Circle, which issues USDC, renewed automatically after both sides met the agreement's conditions. The extension keeps Coinbase's USDC revenue-sharing arrangement in place despite recent talk about its role in the Open USD consortium, the company said.
Coinbase reported second-quarter revenue of $1.22 billion, missing the $1.29 billion analysts expected and falling 14% from the prior quarter as crypto trading activity weakened. Coinbase shares closed at $146.50. ARK Innovation ETF (ARKK) bought 38,761 Coinbase shares, worth roughly $5.68 million, a filing showed.
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