Coinbase: Will support ZEN token migration to Base chain, during which deposits and withdrawals will be suspended.

PANews June 24 news, Coinbase announced that Horizen is transitioning from Layer 1 Horizen Blockchain to an ERC-20 Token based on Base. This upgrade is expected to take place on July 23, 2025. Coinbase plans to temporarily suspend the sending/receiving/trading functions of ZEN from July 16 to July 25 before the migration. Coinbase additionally stated that it will support this migration and automatically convert the ZEN tokens on Layer1 Horizen to ZEN tokens on Base, and plans to temporarily disable the Horizen network on July 16 to carry out this upgrade. Coinbase reminds that during the migration, please do not deposit, transfer, or trade ZEN, as any deposits during this period (from July 16 to July 25) will be irreversible, and the service will be restored with further notice.