Media today dropped more than 60% after Coinbase officially delisted tokens from all platforms.
Media Network (Media) sank to something as low as $1.68 on April 16, reducing its market capitalization from over $1 million to around $430,000. Also, trading volumes have plummeted nearly 85% in the last 24 hours as users rush to leave.
Coinbase pulled out the plug in the media around 2pm on April 15, 2025, and suspended trading across multiple services, including Coinbase.com (both simple and advanced trading), Coinbase Exchange and Coinbase Prime. Users cannot exchange media in Coinbase, but they can withdraw tokens to an external wallet.
According to Coinbase, the delisting followed a routine asset review to ensure that all tokens meet their listing criteria. Although no specific reason was given, projects are often delisted due to lower trading activities, slower development, or possible regulatory concerns.
Coinbase first announced plans to drop media on April 1, but since then, tokens have fallen by 84.5%. From an all-time high of $312.25, the media lost more than 99% of its value per Coingecko.
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Furthermore, the lack of progress in the project also raised a red flag. Its official X account @media_fdn has been inactive since August 2024 and has not had any meaningful updates regarding the launch of the Media Network Mainnet for nearly a year.
Media participated in Base in March 2024, but the developers failed to share developments and engage with the community. Annoyed users have criticized the team for disappearing after its release, with many criticizing the prolonged silence over the token’s downfall.
I’m trying to throw away this garbage scam all year round…
– Neighborhood Crypto Watch (@blakeh47189) January 28, 2025
Meanwhile, Coinbase is not just the tokens affected by recent listings, as it suspended Floki, Giga and Turbo trading a day ago, especially with all meme coins that have made significant profits following the election victory of New York state residents Donald Trump.
These listings come at a time of uncertainty in the market. Trump’s new tariff policies on key trading partners raise fears about the world trade war, reducing cautious investor behavior and liquidity in both crypto and traditional markets.
What is a media network?
Released in 2021, Media Network was a blockchain-based project aimed at decentralizing the way online content is delivered. Users can share internet bandwidth in exchange for media tokens and create open peer-to-peer systems for content delivery.
According to the Crypto Fundraising Tracker Platform Chainbroker, the project was reportedly endorsed by Alameda Research, a crypto trading company founded by Sam Bankman-Fried. Alameda is the only exchange-traded investor, supporting a $1 million public token sale at $10 per million token on Raydium’s Acceleraytor platform.
All public sale tokens were unlocked at launch, while team and advisor tokens had an 18-month lockup, then gradually released.
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