- Coinbase Prime is dropping custody support for 49 altcoins, including some obscure real estate tokens.
- No clear reason was given, but low usage or compliance issues are likely culprits.
- The move fits a larger strategy to focus on assets that make more sense for institutional clients in a choppy crypto market.
Coinbase Prime is doing a bit of spring cleaning. The institutional wing of Coinbase just announced it’ll stop offering custody support for 49 altcoins by the end of April. This includes a mix of low-profile blockchain assets, a few oddball investment tokens, and even some tied to real estate.
What’s Getting Axed?
On April 14, Coinbase Prime shared the news in a post on X, saying the platform is always re-evaluating what it supports to ensure assets meet its standards. And apparently, these 49 didn’t make the cut.
Some of the affected names include BOSAGORA (BOA), 0chain (ZCN), pNetwork (PNT), Telcoin (TEL), and Oraichain Token (ORAI). Others like Sentinel Protocol (UPP), Cellframe (CELL), and Ideaology (IDEA) also got the boot. And then you’ve got the real estate crowd—tokens like 1717 Bissonnet (1717), The Edison (EDSN), and Hello Albemarle (HLAB)—which, let’s be real, most people had probably never heard of.
Interestingly, a few of these tokens, like PNT, ORAI, and TEL, even gained a bit in price over the last 24 hours. So it’s not all doom and gloom.
Why the Cut?
Coinbase didn’t exactly spill the tea on why these tokens were getting delisted, but it’s likely a mix of things—low liquidity, weak market interest, or maybe just not meeting compliance benchmarks for institutional-grade custody. Whatever the case, if you’re holding any of these through Coinbase Prime, you’ve got until the end of April to figure out your exit.
Bigger Picture
Coinbase Prime currently supports over 430 assets, so dropping 49 is a blip in the grand scheme. Still, it shows the platform is trying to tighten things up. The move comes at a time when Coinbase is expanding in other areas—like listing meme coins such as DOGINME and KEYCAT (yep, real names), which actually popped in price after going live.
That said, Q1 2025 wasn’t kind to Coinbase overall. The company’s stock plunged 30%, marking its worst quarter since the FTX disaster. So while this token purge might just be routine cleanup, it also hints at a broader shift: Coinbase wants to lean into higher-liquidity, higher-confidence assets to keep big-money clients on board.
