Coinbase to suspend trading on 12 perpetual futures due to liquidity issues on May 21

Coinbase announced it will suspend trading for 12 perpetual futures contracts on May 21 at around 13:00 UTC, citing liquidity and market-quality concerns. Open positions will be automatically settled using the average index price from the hour before suspension. This move reflects Coinbase's effort to focus on higher-quality derivatives markets amid growing competition. Traders are advised to close or reduce positions before the halt to avoid automatic settlement.