The Indonesia Stock Exchange (IDX) has officially suspended trading of shares of PT Indokripto Coin Semesta Tbk (COIN) on trading July 17, 2025.
The decision was taken after COIN shares experienced a significant cumulative price increase since they were first listed on the stock exchange on July 9, 2025.
Head of the IDX Transaction Supervision Division, Yulianto Aji Sadono, said that a temporary suspension or suspension was applied at the Regular Market and Cash Market in order to cool down to protect investors and maintain reasonable securities trading.
"The temporary suspension of trading in PT Indokripto Coin Semesta Tbk (COIN) shares was carried out in the Regular Market and Cash Market," he said, quoting Antara.
"This aims to provide adequate time for market participants to consider carefully based on the information available in each investment decision-making in PT Indokripto Coin Semesta Tbk (COIN) shares," he added.
Since the initial offer was priced at IDR 100 per share, COIN has indeed continued to set an Auto Reject Atas (ARA) record for six consecutive days and closed at the level of IDR 474 on July 16, 2025, recording a price spike of up to 374 percent.
Responding to the suspension from the stock exchange, President Director of COIN Ade Wahyu expressed his gratitude to investors.
He stated that the high enthusiasm of investors for COIN shares is in line with the positive trend in the global crypto asset market.
"The high interest in COIN stocks coincided with the positive trend that occurred in the crypto asset market," he said.
Bitcoin as a crypto asset with the largest market capitalization has again managed to set an all-time high.
The increase in crypto prices, especially Bitcoin, which set an all time high (ATH) record at the level of 122,838 US dollars on July 14, 2025, also contributed to a surge in activity in the crypto ecosystem.
The daily trading volume of crypto spots on PT Central Financial X (CFX), one of the COIN subsidiaries, was also reported to have reached nearly IDR 3 trillion last weekend, up sharply from the daily average of IDR 1 trillion throughout July.
"We are very grateful for the trust and enthusiasm of investors since the first day COIN was listed on the stock exchange," said Ade.
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High enthusiasm for crypto assets can certainly have a positive impact on COIN, as well as on our two subsidiaries, namely PT Central Financial X (CFX) as a crypto asset exchange and PT Kustodian Coin Indonesia (ICC) as a crypto asset custodian.
Ade emphasized that his party will continue to maintain market interest by ensuring that the COIN crypto ecosystem is run transparently and in accordance with the principles of good corporate governance (GCG).
The market capitalization of COIN also jumped from IDR 1.4 trillion when the IPO was IDR 6.5 trillion at the last close of trading.
As for the same date, the IDX also temporarily suspended trading of shares of PT Chandra Daya Investasi Tbk (CDIA) for similar reasons.
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