Coinbase Suspends 25 Perpetual Futures Contracts Amid Optimization Efforts

Coinbase, a leading cryptocurrency exchange, has announced plans to suspend 25 perpetual futures contracts on March 16. This move is aimed at optimizing derivatives offerings and maintaining market quality benchmarks.

The suspended contracts include MET-PERP, REZ-PERP, BABY-PERP, SUPER-PERP, SUSHI-PERP, GMX-PERP, ERA-PERP, XAN-PERP, VINE-PERP, T-PERP, among others. Traders with open positions in these contracts do not need to take any action as Coinbase will automatically settle outstanding trades.

The company will calculate the conclusive settlement price as the average index price over the sixty minutes prior to suspension. Additionally, Coinbase has set the ultimate funding rate for the conclusive funding phase ahead of the settlement to zero.