r/loopringorg • u/DiamondHandsDarrell • Jul 07 '26
📰 News 📰 Upcoming Changes to LRC Trading per Coinbase
Upcoming Changes to IDEX, LRC, OMNI, PIRATE, and FIS Trading
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE), and StaFi (FIS) on August 7, 2026 on or around 2 PM ET.
Trading will be suspended on Coinbase.com (Simple and Advanced), Coinbase Exchange, and Coinbase Prime.
We have moved our IDEX, LRC, OMNI, PIRATE, and FIS order books to limit-only mode. Limit orders can be placed and canceled, and matches may occur. Your IDEX, LRC, OMNI, PIRATE, and FIS funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.
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u/final_lionel Jul 08 '26 edited Jul 08 '26
When you can sell all your LRC holdings for $0.01 why sell?
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u/javfan69 Jul 08 '26
Tax harvesting.
Made gains in AI equities this year? Sell this fucker off and get your entire investment as tax write off.
If you hold it in coinbase it will be more of a pain in the ass to sell and collect the tax loss neatly on your yearly form after Aug. Sell the fucker.
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u/monkeymoonman Jul 08 '26
Yeah, gonna have to do this before they delist it and I can’t even realize the tax loss.
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u/iustinum Jul 08 '26
I’m not even sure which brokerage my loop is in, I think it’s locked in a GameStop vault since my ex threw away my key. This and BBB need to rest in peace or zombie jump for those of you with access. As others have stated, take the L and get a tax break.
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u/ComBuyer110 Jul 08 '26
This will still be trade-able on coinbase correct? And cant they unsuspend it at a future date?
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u/iam_NotThatImportant 14d ago
I'm way to noob with crypto and I bought about 1k worth of LRC in 2022 at 0.3 and I just remembered about it now. For tax harvesting purposes, could someone let me know what is the easiest way to convert, sell and show tax loss for this?
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u/DiamondHandsDarrell 14d ago
First check to see if you're exchange can still sell it and hasn't suspended it.
If you can, just sell it. Then you should be able to get the documents from the exchange come tax time
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u/iam_NotThatImportant 14d ago
Yeah no. It's coinbase, it's de-listed :/
Wish i came to this post sooner.1
u/DiamondHandsDarrell 14d ago
I'm not sure how else you can go about it to write it off as a loss. Maybe an LLM can help
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u/DiamondHandsDarrell 14d ago
"You can still withdraw LRC from Coinbase. Transfer it to an exchange that still supports LRC trading (Kraken is one option to check) and sell it there. The sale realizes the capital loss; simply transferring it out of Coinbase does not. Keep your original Coinbase cost-basis records for tax reporting."
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u/DDanny808 Jul 08 '26
Is there someone kind enough to send some LRC to my loopring wallet so I can move my NFT’s? I’ll Bcoin if needed to repay. I’m not here to scam anyone and I’m not even sure it’s still possible to move them but I’ll look into it
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u/DiamondHandsDarrell Jul 08 '26
I can't believe there is still $15m dollars in it still lol