sections

Binance to Remove the Listed Cryptocurrencies on December 7th


Binance to Remove the Listed Cryptocurrencies on December 7th

Binance, the world’s leading cryptocurrency exchange, has announced the delisting of BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC) from its platform. This removal will take effect on December 7, affecting trading pairs like BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, and WTC/USDT. The decision to delist is attributed to factors such as a decreased level of development activity, low trading volume and liquidity, evidence of unethical or fraudulent conduct, and other considerations.

The disclosure of the delisting has led to significant declines in the prices of the affected cryptocurrencies. Notably, WTC experienced a 35% drop, TORN declined by 40%, and PERL collapsed by 45% within a 24-hour period, according to CoinGecko’s data.

Binance recently delisted ten spot trading pairs, including APT/BUSD, AXS/BUSD, FIL/BUSD, and USTC/BUSD, without specifying a reason. The exchange periodically reviews trading pairs, removing those with poor liquidity and trading volume. Furthermore, it has communicated plans to discontinue support for the stablecoin BUSD in early 2024, urging customers to convert their holdings to other assets before February 2024.

These delisting actions follow Binance’s agreement to settle money-laundering charges with the US Department of Justice, resulting in a substantial $4.3 billion fine. Additionally, the former CEO, Changpeng Zhao, resigned, with Richard Teng assuming the leadership role.


0 Comments

Your email address will not be published. Required fields are marked *