Martin, 24, had been dealing with a Grade II right quad strain after averaging 6.2 points and 2.7 rebounds in Golden State's inaugural 2025 season.
The move suggests the Valkyries preferred other backcourt options as they finalized their 2026 roster, despite Martin's role as a useful bench contributor and fan favourite.
Martin was taken in the 2024 expansion draft after starting her WNBA career with Las Vegas, and could still return on a developmental deal or join another team.
Waived by a title contender, is a limited developmental deal Kate Martin's only path back to the WNBA?
Beyond fan hopes, can the Indiana Fever realistically afford a reunion for Caitlin Clark and Kate Martin?
Why did a billion-dollar team cut a key role player right before the season began?