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Leading U.S. cryptocurrency exchange Coinbase has disabled trading for IoTeX (IOTX), a nascent blockchain project focused on decentralized physical infrastructure.
Coinbase Markets confirmed that IOTX trading had been switched off after the exchange first announced the suspension in late August.
"We have disabled trading for IoTeX (IOTX). Your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time," Coinbase Markets said.
The exchange has stressed that customers are not losing access to their tokens and can still withdraw them.
Coinbase had previously said that trading would be suspended on Coinbase.com, including Simple and Advanced Trade, as well as Coinbase Exchange and Coinbase Prime. The decision followed one of its regular token reviews.
Coinbase has not publicly identified a specific listing requirement that IoTeX failed to meet.
IOTX was initially added to Coinbase in August 2021 after a major bull run.
IoTeX has since evolved beyond that original IoT-focused pitch. It started focusing on decentralized physical infrastructure networks (DePIN), artificial intelligence, and machine-to-machine commerce.
That puts it in direct competition with IOTA, another blockchain project that is focused on making the machine economy more efficient.
IoTeX's response
The IoTeX team has attempted to reassure holders after the suspension.
"For our community: your IOTX remains yours. Coinbase has suspended trading, but your IOTX remains accessible and can still be withdrawn," the project said on X.
IoTeX said that holders of legacy ERC-20 IOTX on Coinbase who want to move to native IOTX will be provided with a 1:1 conversion route by the IoTeX Foundation.
IoTeX activated its v2.4.0 upgrade in June 2026. The mandatory network release brought elements of Ethereum's Pectra upgrade to the IoTeX blockchain.
Those technological developments, however, have done little to prevent an extraordinary collapse in the market value of IOTX.
The token is down around 85% over the past year. It is down by another 5% today due to the Coinbase announcement.
Dan Burgin
U.Today Editorial Team
