Coinbase to Suspend Perpetual Contracts on 12 Tokens Including KAITO, VET, and CAKE Over Liquidity and Quality Concerns!

Coinbase will halt perpetual contract trading for twelve tokens — KAITO, SENT, SAHARA, CAKE, TOSHI, AKT, VET, ANIME, THETA, ZK, KERNEL, and BARD — at approximately 21:00 UTC+8 on May 21st. The exchange cited insufficient liquidity and project quality falling below its market standards as the driving factors behind the decision.

The breadth of the suspension is notable: twelve assets cut simultaneously signals a deliberate tightening of Coinbase's derivatives listing criteria rather than an isolated incident. For traders holding leveraged perp positions in any of the named tokens, the clock is now running to manage or close exposure before the cutoff.

The move adds downward pressure on the affected tokens, as perp markets are a key source of speculative demand and price discovery — losing access on a major venue typically weighs on spot prices in the near term.