Coinbase to Execute Rebase on SPCX Perpetual Contract
A significant operational update has been issued by the cryptocurrency exchange Coinbase regarding one of its derivative products. The platform will conduct a rebase adjustment for the SPCX Perpetual pre-IPO contract, scheduled for approximately 06:00 UTC on June 11, 2026.
Trading Halt and Operational Details
To facilitate a smooth and orderly adjustment process, the following temporary measures will be implemented:
- Trading Suspension: The market for this specific contract will be temporarily halted during the rebase execution window.
- Order Cancellation: All resting limit orders that are not filled prior to the adjustment will be automatically canceled by the system.
- Market Reopening: Following the successful completion of the rebase, trading will resume with the order book reflecting the new adjusted price basis.
Such rebasing events are typically a built-in mechanism to align the contract's price closer to the underlying asset's target valuation. Traders are advised to review their positions and manage risk accordingly ahead of the scheduled event.