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Coinbase to suspend LRC-USD trading as Loopring trading access shrinks

Coinbase said it will suspend LRC-USD on or around 2 p.m. ET Aug. 7, while Loopring’s own DEX has shut down and project updates set an Aug. 15 manual recovery deadline.

Reported · Written up by our desk · Market Structure

Coinbase is scheduled to suspend LRC-USD trading on or around 2 p.m. ET on Aug. 7, according to a notice referenced by CryptoSlate. If the change is completed, it would close a Coinbase-hosted dollar market while keeping customer balances accessible and allowing withdrawals.

The suspension would apply to Coinbase.com Simple and Advanced Trade, Coinbase Exchange, and Coinbase Prime, and as of press time the incident was still marked Monitoring with LRC-USD in limit-only mode. Coinbase had not yet confirmed that the trading suspension was fully completed at that time.

CryptoSlate also noted that Loopring’s own exchange is not a substitute, with the project homepage stating it is no longer operational. Loopring previously said DEX trading would end immediately and the relayer would go offline, and it later reported returning about $7.40 million in ETH and 72 ERC-20 tokens to 31,644 Ethereum mainnet addresses across 142 batches, directing certain excluded smart-wallet cases to a manual recovery process with an Aug. 15 deadline.

Ahead of Coinbase’s cutoff, CryptoSlate reported that market liquidity for LRC appeared concentrated across a small set of venues, with CoinGecko showing LRC near $0.01031 around 10:50 a.m. ET and roughly $3.53 million in reported 24-hour volume across dozens of venues. The same outlet said price weakness predated the scheduled halt and that broader market data cannot prove Coinbase’s notice caused the decline.

Latest closeEthereum $1,912.31 ▲0.5%

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