Coinbase suspended the TON-PERP perpetual futures market on June 17, 2026, reducing one regulated centralized venue for leveraged Toncoin exposure. The operational notice was issued by Coinbase Markets, while Coinbase product specifications identify TON-PERP as part of the Coinbase International Exchange perpetual futures suite.
The suspension was scheduled for on or around 21:00 UTC on June 17, according to Coinbase Markets. The exchange had warned traders in advance that any remaining open positions would be automatically settled when trading was halted.
Trading for the following perpetual futures will be suspended on Coinbase on June 17 on or around 21:00 UTC.
Toncoin (TON-PERP)
Any remaining open positions will be settled automatically at the time of suspension. The final settlement price will be calculated as the average…
— Coinbase Markets 🛡️ (@CoinbaseMarkets) June 16, 2026
TON-PERP Settled at $1.623 USDC
Coinbase Markets later confirmed that trading for Toncoin perpetual futures had been suspended. Any remaining open positions were automatically settled at a final price of $1.623 USDC.
The final settlement price was calculated using the average index price over the 60 minutes before the trading suspension. Coinbase also said the funding rate for the final funding period would be set to zero as part of the closure process.
The product itself was a linear, USDC-settled perpetual futures contract under Coinbase International Exchange specifications. Coinbase’s product documentation lists TON-PERP with Toncoin as the base currency, TON-USD as the underlying market and USDC as the settlement asset.
Coinbase did not provide a specific public reason for removing TON-PERP. It also did not indicate whether the market could return later, leaving the suspension as a product-level decision rather than a stated judgment on the Toncoin network.
TON Traders Lose a Coinbase International Route
The distinction between Coinbase entities matters. The notice came through Coinbase Markets, but the contract sat within Coinbase International Exchange’s perpetual futures framework, which supports USDC-settled crypto perpetuals for eligible users.
For TON traders, the immediate effect is narrower access to Coinbase-linked leverage. Users seeking Toncoin exposure may need to rely on spot markets, alternative centralized exchanges or decentralized perpetual platforms.
The suspension also shows that derivatives availability can change even as Coinbase expands broader perpetual futures access. A venue can grow its derivatives business while still removing individual contracts from its product lineup.
The broader lesson is structural. Centralized derivatives venues remain important for liquidity, hedging and price discovery, but access to specific instruments can be withdrawn with limited lead time.
Coinbase has not announced further changes to other Toncoin-related products or services. The confirmed update is limited to TON-PERP’s June 17 suspension, automatic settlement at $1.623 USDC and the final-price calculation method.