diff --git a/app/scripts/controllers/token-rates-controller.test.js b/app/scripts/controllers/token-rates-controller.test.js
deleted file mode 100644
index 31032495e..000000000
--- a/app/scripts/controllers/token-rates-controller.test.js
+++ /dev/null
@@ -1,68 +0,0 @@
-import { strict as assert } from 'assert';
-import sinon from 'sinon';
-import { TokensController } from '@metamask/controllers';
-import TokenRatesController from './token-rates';
-import NetworkController from './network';
-import PreferencesController from './preferences';
-
-const networkControllerProviderConfig = {
-  getAccounts: () => undefined,
-};
-
-describe('TokenRatesController', function () {
-  let nativeCurrency,
-    getNativeCurrency,
-    network,
-    provider,
-    preferences,
-    tokensController;
-  beforeEach(function () {
-    nativeCurrency = 'ETH';
-    getNativeCurrency = () => nativeCurrency;
-    network = new NetworkController();
-    network.setInfuraProjectId('foo');
-    network.initializeProvider(networkControllerProviderConfig);
-    provider = network.getProviderAndBlockTracker().provider;
-    preferences = new PreferencesController({ network, provider });
-    tokensController = new TokensController({
-      onPreferencesStateChange: preferences.store.subscribe.bind(
-        preferences.store,
-      ),
-      onNetworkStateChange: network.store.subscribe.bind(network.store),
-    });
-    sinon.stub(network, 'getLatestBlock').callsFake(() => Promise.resolve({}));
-    sinon.stub(tokensController, '_instantiateNewEthersProvider').returns(null);
-    sinon
-      .stub(tokensController, '_detectIsERC721')
-      .returns(Promise.resolve(false));
-  });
-  it('should listen for tokenControllers state updates', async function () {
-    const controller = new TokenRatesController({
-      tokensController,
-      getNativeCurrency,
-    });
-    await tokensController.addToken('0x1', 'TEST', 1);
-    assert.deepEqual(controller._tokens, [
-      {
-        address: '0x1',
-        decimals: 1,
-        symbol: 'TEST',
-        image: undefined,
-        isERC721: false,
-      },
-    ]);
-  });
-
-  it('should poll on correct interval', async function () {
-    const stub = sinon.stub(global, 'setInterval');
-    const controller = new TokenRatesController({
-      tokensController,
-      getNativeCurrency,
-    });
-    controller.start(1337);
-
-    assert.strictEqual(stub.getCall(0).args[1], 1337);
-    stub.restore();
-    controller.stop();
-  });
-});
diff --git a/app/scripts/controllers/token-rates.js b/app/scripts/controllers/token-rates.js
deleted file mode 100644
index 319265593..000000000
--- a/app/scripts/controllers/token-rates.js
+++ /dev/null
@@ -1,88 +0,0 @@
-import { ObservableStore } from '@metamask/obs-store';
-import log from 'loglevel';
-import { normalize as normalizeAddress } from 'eth-sig-util';
-import getFetchWithTimeout from '../../../shared/modules/fetch-with-timeout';
-import { toChecksumHexAddress } from '../../../shared/modules/hexstring-utils';
-import { MINUTE, SECOND } from '../../../shared/constants/time';
-
-const fetchWithTimeout = getFetchWithTimeout(SECOND * 30);
-
-// By default, poll every 3 minutes
-const DEFAULT_INTERVAL = MINUTE * 3;
-
-/**
- * A controller that polls for token exchange
- * rates based on a user's current token list
- */
-export default class TokenRatesController {
-  /**
-   * Creates a TokenRatesController
-   *
-   * @param {Object} [config] - Options to configure controller
-   */
-  constructor({ tokensController, getNativeCurrency } = {}) {
-    this.store = new ObservableStore();
-    this.getNativeCurrency = getNativeCurrency;
-    this.tokens = tokensController.state.tokens;
-    tokensController.subscribe(({ tokens = [] }) => {
-      this.tokens = tokens;
-    });
-  }
-
-  /**
-   * Updates exchange rates for all tokens
-   */
-  async updateExchangeRates() {
-    const contractExchangeRates = {};
-    const nativeCurrency = this.getNativeCurrency().toLowerCase();
-    const pairs = this._tokens.map((token) => token.address).join(',');
-    const query = `contract_addresses=${pairs}&vs_currencies=${nativeCurrency}`;
-    if (this._tokens.length > 0) {
-      try {
-        const response = await fetchWithTimeout(
-          `https://api.coingecko.com/api/v3/simple/token_price/ethereum?${query}`,
-        );
-        const prices = await response.json();
-        this._tokens.forEach((token) => {
-          const price =
-            prices[token.address.toLowerCase()] ||
-            prices[toChecksumHexAddress(token.address)];
-          contractExchangeRates[normalizeAddress(token.address)] = price
-            ? price[nativeCurrency]
-            : 0;
-        });
-      } catch (error) {
-        log.warn(
-          `MetaMask - TokenRatesController exchange rate fetch failed.`,
-          error,
-        );
-      }
-    }
-    this.store.putState({ contractExchangeRates });
-  }
-
-  /* eslint-disable accessor-pairs */
-  /**
-   * @type {Array}
-   */
-  set tokens(tokens) {
-    this._tokens = tokens;
-    this.updateExchangeRates();
-  }
-  /* eslint-enable accessor-pairs */
-
-  start(interval = DEFAULT_INTERVAL) {
-    this._handle && clearInterval(this._handle);
-    if (!interval) {
-      return;
-    }
-    this._handle = setInterval(() => {
-      this.updateExchangeRates();
-    }, interval);
-    this.updateExchangeRates();
-  }
-
-  stop() {
-    this._handle && clearInterval(this._handle);
-  }
-}