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>>Coinbase suspends SEAM trading, delivering a major blow to DeFi after the Seamless Protocol shutdown.

Coinbase suspends SEAM trading, delivering a major blow to DeFi after the Seamless Protocol shutdown.

crypthub

about 17 hours ago

Coinbase Halts SEAM Trading

Coinbase announced it will stop all SEAM token trading at 6:00 p.m. UTC on May 18 2025. The move follows Seamless protocol’s decision to close its services by June 30 2025, making the token’s utility uncertain. Coinbase’s listing criteria—security, compliance, volume—flagged the upcoming shutdown as a risk, prompting the protective suspension.

Seamless Protocol Shutdown

Seamless was a permissionless lending platform on Base, governed by the SEAM token. Low total value locked, fierce competition, regulatory pressure, and waning developer interest led to its strategic wind‑down. With the protocol ceasing, SEAM loses its core governance function and faces a sharp decline in value.

Impact on Holders and Market

After the halt, users can still withdraw SEAM to private wallets but cannot trade on Coinbase. Options include withdrawing, selling before the deadline, or holding an illiquid asset on‑exchange. Coinbase’s action may trigger similar delistings elsewhere, reflecting tighter 2025 regulations and a broader trend toward consolidating viable DeFi projects.