BYKO
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EP 56

Coinbase Opened CP, Then Sent It Back to Auction Seven Minutes Later

CP went live on Coinbase, returned to auction seven minutes later, and fixed its price display before fixing its circulating-supply metadata.

Coinbase CP-USD trading page showing the limit-only status after returning from auction

Coinbase moved CP-USD into limit-only trading, declared Cluster Protocol available, returned the pair to auction seven minutes later, and reopened it in limit-only mode 14 minutes after that.

Public candles show five minutes of matching before the auction gap, including a $0.31701 high, followed by no candle entries until 14:15 UTC. The earlier $1,915.35 price and $9.58T market-cap display disappeared. Coinbase and CoinGecko now show a market price near $0.04, but neither reproduces the issuer's stated 1.369B circulating supply.

For BYKO, this is a useful correction to the word "listed." Support, consumer availability, auction, matching, limit-only trading, price publication, and supply recognition are separate infrastructure states. A price can become executable before the metadata needed to interpret it becomes coherent.

Sources: Coinbase Markets, Coinbase Exchange API, Cluster Protocol, CoinGecko, PANews.

Figures corrected after publication stay on the page: the old number is struck, not deleted, and the entry that fixed it is dated.

InstrumentBYKO — legitimacy meter Serial790,227 NetworkBase · 8453 Rev1.3 Statusin service · running

Neighbouring entries

Either side of this one

5 September 2026

AMC Rejected the Token Bearing Its Ticker. Robinhood Refused to Stop It

Robinhood can prove which AMC token is canonical; AMC can still say the product has nothing to do with the company.

 newer 2 September 2026

Coinbase Displayed a $9.58T Market Cap Before CP Was Tradable

Coinbase showed CP at $1,915.35 and $9.58T while labeling it non-tradable and reporting no volume.

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