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FTX plans to begin Coinbase's equity token transition on April 14, during which transfers and trading will be suspended

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Each CBSE unit will be converted to 1.0452 coins

On April 14, FTX announced that the currently available equity token CBSE is a pre-IPO product, with each contract tracking 1/250 million of Coinbase's market capitalization. After Coinbase's first public trading day, the CBSE will convert into an equivalent number of Coinbase shares.

As of 2 a.m. UTC on April 14, 2021, FTX's best estimate for the number of shares available at the end of Coinbase's first public trading day is 261.3 million. In order to clarify the listing situation of Coinbase, FTX will convert the balance of CBSE into the equivalent of COIN. Coin is a new pre-IPO product similar to CBSE that tracks 1/261.3 million of Coinbase's market capitalization.

Transition from CBSE to COIN

On 14 April 2021 at 2pm Singapore time, FTX will pull CBSE/USD trading on the shelf to stop CBSE transfer and trading, and cancel all CBSE spot lending loans.

COIN converts CBSE balances to COIN balances: Each CBSE unit will be converted to 1.0452 COINS, replacing the previous CBSE spot loans with loans equivalent to the spot loans of COIN online Coin /USD trading pairs.

The transition is expected to last about an hour.