Coinbase Prime to stop supporting 49 risky altcoins
Coinbase Prime to end custody for 49 crypto assets by April’s end.
Coinbase Prime, the institutional wing of leading U.S. crypto exchange Coinbase, will end custody support for 49 digital assets by the end of April.
The change was announced in an April 14 post on X, with Coinbase citing a routine review of supported tokens to “ensure they continue to meet our standards.”
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The affected assets include a wide range of niche blockchain projects, such as BOSAGORA (BOA), pNetwork (PNT), and Telcoin (TEL), as well as real estate-backed tokens like Draper Garland Apartments (GFDG), The Edison (EDSN), and Forest Crossing Apartments (GFFC). While some of the tokens posted modest gains following the announcement, others were largely unaffected or saw minor price movement.
Coinbase Prime offers institutional services like secure asset custody, trading, and financing solutions. The removal of these assets suggests a broader reassessment of the platform’s offerings, though Coinbase did not provide specific criteria behind the decision. The firm currently supports more than 430 tokens, and the delisted group accounts for just over 11% of total custody offerings.
Market focus tightens as institutional priorities shift
The move to end support for these assets appears to reflect Coinbase’s effort to streamline its institutional services, particularly in response to increased market volatility and shifting regulatory expectations. Tokens with low liquidity, minimal trading activity, or that fall short of institutional-grade compliance may be most vulnerable to removal.
Institutional clients holding the impacted tokens will need to liquidate or transfer their assets before the end of April. The company’s website has yet to clarify whether new guidance will follow for evaluating future token listings.
This update arrives during a turbulent period for Coinbase. Despite expanding listings for memecoins like Doginme (DOGINME) and Keyboard Cat (KEYCAT), Coinbase stock dropped 30% in Q1 2025—its worst quarter since the collapse of FTX. The delistings may be part of a longer-term effort to refocus on higher-liquidity and more widely adopted assets, which better serve institutional investors and mitigate compliance risks.
Recently we wrote, that Coinbase has reported a significant increase in the depth of its order book, signifying enhanced liquidity.
