Coinbase starts changing AERO and VELO balances into the new Aero token.

Coinbase marked its AERO and VELO migration in progress on 2 November. It schedules automatic conversion through 4 November, with sends and receives temporarily unavailable. AERO trading continues; VELO trading is disabled under the announced timetable.

The published conversion rates differ: existing AERO converts one-for-one, while each VELO converts into approximately 0.044 new AERO. Coinbase says the conversion carries no transaction fee and requires no customer action for balances held there. That arrangement should not be assumed to cover tokens in a self-custody wallet or at another exchange.

The migration was announced on 28 October; today's development is the start of the maintenance window. Coinbase plans to restore transfers on 4 November and then support only the new AERO token for deposits and withdrawals. Its notice warns that legacy AERO sent afterwards may not be recoverable.

This is a venue-specific operational update, distinct from the Kraken migration pause reported earlier. A familiar ticker is insufficient to identify a supported deposit: the token version and the receiving venue's current instructions matter. The stated schedule does not prove that every customer's conversion has finished.