The largest cryptocurrency exchange in the U.S., Coinbase, has disabled trading for IoTeX (IOTX), a project focused on decentralized physical infrastructure. The official confirmation of the trading suspension came from Coinbase Markets after the suspension process began at the end of August. In a statement, the exchange noted: “We have disabled trading for IoTeX (IOTX). Your funds will remain accessible, and you can withdraw your funds at any time.” The exchange stated that customers do not lose access to their tokens and can continue to withdraw them. Coinbase previously reported that trading for IOTX would be temporarily suspended on Coinbase.com, including the Simple and Advanced Trade services, as well as Coinbase Exchange and Coinbase Prime. This decision was the result of one of the routine token reviews on the platform.
Coinbase did not specify the exact listing requirements that may have led to this step. The IOTX token was added to Coinbase in August 2021 after significant market growth. Since then, IoTeX has significantly expanded its operations, shifting its focus to decentralized physical infrastructure networks, artificial intelligence, and machine commerce, putting it in direct competition with IOTA, another project in the machine economy space.
To reassure its holders, the IoTeX team commented on the situation: “For our community: your IOTX remains yours. Coinbase has suspended trading, but your IOTX is available and can be withdrawn.” The IoTeX team also added that holders of the traditional ERC-20 IOTX on Coinbase wishing to switch to native IOTX will have the opportunity for a 1:1 conversion through the IoTeX Foundation. IoTeX conducted an upgrade to version 2.4.0 in June 2026, which included elements of the Pectra upgrade from Ethereum. However, these technological innovations did not prevent a significant drop in the market value of IOTX: the token lost about 85% of its value over the past year and fell another 5% after Coinbase's announcement.
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