Coinbase removes 5 tokens, but the withdrawal function remains open

Coinbase removes five cryptocurrencies, and the trading function has been suspended.

Coinbase stopped trading support for five cryptocurrencies on Friday (August 7) after giving holders a month to prepare. The five tokens are Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE) and StaFi (FIS). The suspension covers Coinbase's simple trading, advanced trading, exchange and Prime service platforms.

Although the trading function has been stopped, users can still access assets in their accounts and withdraw cash at any time. Coinbase stated in the notice that the balance will still be checked, the withdrawal function will continue to be open, and holders can transfer tokens to compatible external wallets or other platforms that support the token. Currently, the exchange has not announced automatic redemption or clearing of the remaining balance.

A month's warning was issued in advance

The suspension was not sudden. Coinbase first announced the list of tokens it plans to remove as early as July 7, and made it clear that trading will stop around 2 pm EST on August 7. Before the deadline, the order books of IDEX, LRC, OMNI, PIRATE and FIS have been switched to limit order-only mode, allowing users to place and cancel limit orders, while matching transactions can still proceed.

Coinbase said it regularly reviews listed assets to determine whether they continue to meet its listing criteria. However, in the official notice, the specific reasons for the removal of the five tokens were not explained. This means that any suggestion that the suspension of a particular token is attributed to liquidity, regulation, development activities or other single factor is beyond the scope of Coinbase's public explanation.

Currently, this change has officially taken effect. On Coinbase's asset page, IDEX, Loopring, Omni Network, Pirate Nation and StaFi have all been marked as "not tradable."

Differences between coin removal and transaction pair removal

The suspension of trading of these five tokens is different from the six transaction pairs removed by Coinbase the previous day (August 6). On August 6, Coinbase stopped trading in LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT. Removing the transaction pair means that Coinbase can still continue to support the underlying asset through other available markets (depending on the user's region). In contrast, IDEX, LRC, OMNI, PIRATE and FIS have completely lost transaction support in Coinbase's main retail, advanced and institutional spot services.

Coinbase said the removal of the six trading pairs was the result of following its regular market review aimed at consolidating liquidity and supporting healthier markets. Five of these markets had first switched to limit order-only trading before the suspension.

Coinbase has previously conducted a similar review process. For example, in May, as part of another asset change, the exchange stopped trading in DAI and converted the remaining eligible balance to USDS. The notices for IDEX, LRC, OMNI, PIRATE and FIS are different because Coinbase has not announced similar conversion plans.

There have been broader changes in some affected tokens

Outside of Coinbase, the situation for these five assets is not exactly the same. Take Omni Network as an example, the project has been renamed Nomina and has undergone a broader transformation. Nomina said that Omni Core officially ceased service in February 2026, its assets have been migrated to Ethereum, and the ecosystem has also shifted to NOM tokens and Ethereum-based trading protocols. However, Coinbase did not use this transformation as a reason to suspend OMNI trading.

StaFi also lost an important trading platform before Coinbase made its decision. As part of its own regular review, Binance stopped spot trading in FIS in December 2025. Similarly, there is no public evidence that Coinbase's decision was based on Binance's removal, and both exchanges independently conducted their listing reviews.

Current Coinbase data also shows that just because trading stopped on an exchange, it should not be assumed that these five tokens no longer exist. Coinbase will still display price information pages for these assets, even though the pages have marked them as "not tradable." Users can still withdraw the balance based on the August 7 notice.

What to do next for affected Coinbase users

For holders, the most direct choice is currently: leave assets on Coinbase or withdraw cash to other supported platforms. Coinbase has not set a new trading date and has not announced that any markets will resume trading. Its latest statement states that users can still access their funds and withdraw them at any time.

Users who transfer tokens to external wallets need to confirm that the target platform supports the correct network and token contract before initiating the transfer. Coinbase's official supporting materials warn that on-chain sending is irreversible, so it is crucial to ensure network and address compatibility when extracting removed assets.

Meanwhile, the transaction change occurred as Coinbase reorganized other parts of its business. It has been previously reported that institutional accounts, positions and balances on the Coinbase International Exchange are scheduled to be moved to Deribit on September 9. Coinbase's official migration guidelines set August 28 as the opt-out deadline and August 31 as the deadline for customers to verify Derbit access.

This institutional derivatives migration is not related to the suspension of trading in the five tokens, but the two together indicate that Coinbase made multiple market and infrastructure adjustments in August. However, for holders of IDEX, LRC, OMNI, PIRATE and FIS, the current situation is clear: transactions have stopped, balances are accessible, withdrawal functions are available, and there is no timetable for resuming transaction support.