Binance Reveals Final Cryptocurrencies to Be Delisted
Binance, one of the largest cryptocurrency exchanges in the world, has announced that five significant tokens will be delisted following periodic listing reviews. The tokens to be removed from the platform include Gifto, IRISnet (IRIS), Selfkey, OAX, and Ren, which will be completely taken off the platform on specific dates.
What is Binance's delisting policy based on? The announcement indicated that the decision was influenced by criteria such as the level of commitment from project teams, trading volume, liquidity, network security, public communication levels, and compliance with legal regulations. Users need to pay attention to some important dates to prepare for this process and protect their investments.
As part of the delisting process, trading for all spot trading pairs of these tokens will cease on December 10, 2024. Binance is allowing a window until February 12, 2025, for users to withdraw their tokens to prevent user inconveniences. Additionally, margin and futures trading will be halted on December 3, 2024. Other platform services such as Binance Pay and Convert will stop providing services for these tokens starting December 5, 2024. Users are strongly advised to close their open orders, transfer their tokens to spot wallets, and terminate their positions in margin trading.
Why is Binance making the delisting decision? The primary purpose of this delisting decision is to create a healthier investment environment by removing assets that do not meet Binance's high-quality standards. It is also emphasized as a step aligned with Binance's strategy to prioritize ecosystem security and user protection. Binance gives users time to take the necessary steps during this process, stating that such decisions are made for transparency and sustainable growth.
It is crucial for users to act in accordance with the specified dates to secure their investments. Those wishing to obtain more information can review Binance's official announcement and seek assistance from customer services if necessary. This decision by Binance is believed to contribute to the long-term stability of the cryptocurrency market.