Coinbase will remove Fantom (FTM-PERP) from its exchanges on January 24, 2025. Users are anxious about a potential drop in the FTM token’s price due to this decision. At present, FTM trades at 0.6953 USD, marking a weekly decline of 11.80%. The delisting coincides with ongoing regulatory scrutiny.

On January 13, 2025, Fantom plans to rename its token to SONIC with a 1:1 token swap. Binance will support the launch of SONIC by allowing deposits starting January 16, 2025. This move may help Fantom navigate the challenges it faces in the market and ensure the token’s sustainability.

The Commodity Futures Trading Commission (CFTC) is investigating Polymarket and Coinbase’s relation to it, which has played a part in the decision to delist FTM. Coinbase informed users that their data might be shared with authorities due to this probe. This regulatory pressure could affect the platform’s operations and reputation.