Coinbase halts IP-PERP futures as Story Protocol rebrands to Data Network with token swap.

Coinbase will suspend trading of IP-PERP perpetual futures on July 6 to accommodate the rebranding of Story Protocol to Data Network. The project is shifting focus from intellectual property blockchain to AI training data infrastructure, causing a 98% token price drop before the change. Token holders will migrate from $IP to $DATA on a 1:1 basis, with exchanges like Kraken and Bybit supporting the swap. Traders must close or adjust positions before the suspension as Coinbase prepares to relist under the new token ticker.