Coinbase announced Tuesday that it will list DoubleZero (2Z), a Solana-based decentralized physical infrastructure network (DePIN) token, following the U.S. Securities and Exchange Commission’s (SEC) no-action letter that effectively greenlights the project.
The decision marks a regulatory milestone for the DePIN sector, signaling broader institutional acceptance of decentralized infrastructure protocols that integrate blockchain technology into real-world systems. Coinbase’s addition of 2Z follows listings on Binance, Kraken, and other major exchanges—cementing its place among emerging blockchain utilities.
Coinbase’s rigorous listing process evaluates legal, compliance, and technical factors, making DoubleZero’s inclusion notable in light of increasing scrutiny from U.S. regulators.
SEC’s No-Action Letter Spurs Industry Confidence
The SEC’s Division of Corporation Finance stated that it would take no enforcement action against DoubleZero’s token distributions, emphasizing support for projects fostering decentralized physical infrastructure. The commission classified 2Z not as a security, but as a functional incentive token—used to reward network participants for their contributions to distributed systems such as data storage, telecommunications, or energy management.
SEC Commissioner Hester Peirce, often dubbed “Crypto Mom” for her pro-innovation stance, endorsed the decision, noting that DoubleZero’s token distribution was tied to “work or services rendered rather than speculative investment.”
The decision comes as part of a growing push to support the DePIN ecosystem, which bridges digital and physical technologies through blockchain-based coordination. The move also boosted confidence across the sector, with Bittensor (TAO), Render (RNDR), and Filecoin (FIL) seeing renewed investor attention.
Key takeaways from the SEC’s stance:
- 2Z token recognized as a functional, non-security asset
- No enforcement action planned against DoubleZero
- Broader regulatory support for DePIN innovation
DoubleZero (2Z) Price Rises 3% After Listing News
Following Coinbase’s announcement and the SEC’s favorable stance, 2Z prices climbed 3% in the past 24 hours, trading at $0.496 as of Tuesday. The token’s 24-hour range stood between $0.476 and $0.499, with trading volume surging 35%, signaling renewed market interest.
DoubleZero initially soared over 100% during its debut week before retracing after Jump Crypto moved roughly $20.9 million worth of 2Z tokens to Binance and Bybit. Despite short-term fluctuations, derivatives market data from CoinGlass showed steady investor participation, with total futures open interest up 1% to $66.59 million in 24 hours.
The 4-hour futures interest rose over 3%, though modest declines were observed on Binance (-0.24%) and OKX (-0.92%). Analysts view Coinbase’s listing and regulatory clarity as a turning point for DePIN assets entering mainstream adoption.
