The digital asset Media Network (MEDIA) experienced a dramatic downturn today, witnessing a precipitous decline of over 60% in its value. This sharp fall followed the official delisting of the token from all Coinbase platforms.
As of April 16, the price of MEDIA plummeted to a low of $1.68, consequently shrinking its market capitalization from over $1 million to approximately $430,000.
Concurrently, trading volume for MEDIA saw a significant contraction of nearly 85% within the preceding 24 hours as investors rapidly divested their holdings.
Coinbase implemented the cessation of trading for MEDIA on April 15, 2025, around 2:00 PM Eastern Time. This suspension impacted various Coinbase services, including Coinbase.com (both Simple and Advanced Trade interfaces), Coinbase Exchange, and Coinbase Prime.
While the ability to trade MEDIA on the Coinbase platform has been discontinued, users retain the functionality to withdraw their tokens to external digital wallets.
According to an official statement from Coinbase, “the delisting followed a routine asset review meant to ensure all tokens met its listing standards.”
Although a specific rationale for the delisting was not publicly disclosed, common factors leading to such actions often include diminished trading activity, a slowdown in project development, or potential regulatory concerns surrounding the asset.
Coinbase initially announced its intention to delist MEDIA on April 1, and since that announcement, the token’s value has eroded by 84.5%. Examining its historical performance, MEDIA has lost over 99% of its value from its peak of $312.25, as reported by CoinGecko.
Furthermore, growing concerns have been raised regarding the project’s lack of recent progress. The project’s official X account, @Media_FDN, has remained inactive since August 2024, and there has been a near year-long absence of substantial updates regarding the Media Network mainnet launch.
MEDIA was launched on the Base network in March 2024. However, since its introduction, the development team has not provided any updates or actively engaged with the community.
Frustrated users have voiced criticism regarding the team’s apparent disappearance post-launch, with many attributing the prolonged silence to the token’s significant decline. Notably, MEDIA is not the sole digital asset affected by recent delistings.
Coinbase also suspended trading for Floki, GIGA, and Turbo a day prior, specifically for residents of New York State. These were all memecoins that experienced substantial gains following Donald Trump’s election victory in the previous year.
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These delistings occur amidst a period of market instability. The newly proposed tariff policies by President Trump targeting major trade partners have generated apprehension of a potential global trade war.
This has contributed to cautious behavior among investors and a reduction in liquidity across both cryptocurrency and traditional financial markets.
What is Media Network?
Launched in 2021, Media Network was conceived as a blockchain-based initiative with the objective of decentralizing the distribution of online content.
The platform enabled users to share their internet bandwidth in exchange for MEDIA tokens, thereby establishing an open, peer-to-peer infrastructure for content delivery.
According to information from ChainBroker, a platform tracking cryptocurrency fundraising, the project reportedly received backing from the now-defunct Alameda Research, the cryptocurrency trading firm founded by Sam Bankman-Fried.
Alameda Research was listed as the sole investor, supporting a $1 million public token sale on Raydium’s AcceleRaytor platform at a price of $10 per token.
All tokens allocated to the public sale were fully unlocked at the time of launch. In contrast, tokens designated for the team and advisors were subject to an 18-month lockup period, followed by a gradual release schedule.
