Coinbase Halted Trading of IP Token for Rebrand
The network has pivoted toward AI data services, triggering a token conversion process.
Updated on Oct. 5, 2026 in Data Centers
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Coinbase has suspended trading of the IP token as the underlying protocol undergoes a rebranding to the DATA Network. The migration process converts existing IP tokens to the new DATA token on a one-to-one basis.
Why it matters
The rebrand follows a shift in the project's strategic focus toward the specialized infrastructure required for AI training data. The Foundation aims to scale its network capacity significantly beyond its current baseline.
The network currently tracks 1.1 billion registered records, with the Foundation setting a new target of 1.5 billion total assets. Tokens are being swapped at a one-to-one ratio during the ongoing migration.
The players
Coinbase
A major cryptocurrency exchange platform that provides custody and trading services for digital assets.
DATA Foundation
The administrative body overseeing the transition and development of the newly branded DATA Network.
The details
The migration process is managed by the newly named DATA Foundation to transition the network's ecosystem. Users are advised to avoid depositing or transferring tokens while the exchange infrastructure updates to support the DATA standard. The network previously operated under the Story brand, which established a repository of over 1 billion records before pivoting its infrastructure to support high-density AI training data workloads.
Timeline
June 2026: The network recorded 1.1 billion registered records.
October 5, 2026: Coinbase disabled trading for the IP token.
October 5-7, 2026: The migration period for token conversion occurs.
October 7, 2026: Trading for the renamed DATA token is expected to commence.
The Tech Race
The transition to the DATA Network reflects an effort to compete for dominance in the emerging market for decentralized AI training data sets. This move places the project in direct pursuit of the 1.5 billion asset milestone required to remain viable against established data infrastructure competitors.
Holders of the original IP tokens do not need to perform manual actions, as the conversion to DATA tokens is being handled automatically by the Foundation during the migration window. Trading operations for the new asset are anticipated to resume for users on October 7, 2026.
The takeaway
The pivot signals an industry-wide transition toward curating specialized datasets for machine learning applications. Investors and users should monitor the October 7, 2026, trading restart to confirm the successful integration of the renamed assets.
Further reading
For broader trends in infrastructure management, explore our Data Centers section.
Source note: This article includes information reported by TokenPost.
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