Major crypto exchange Binance announced that it will delist various cryptocurrencies as of December 30, 2022, 06:00 CET. Binance’s announcement specifically covers eight altcoin pairs. Here are the details…
Binance made a new delist news
Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, is delisting some spot pairs on December 30, 2022 at 06:00 CET. Altcoins subject to the delist in question include Automata Network (ATA), Golem (GLM), Kusama (KSM), Loom Network (LOOM), Rei Network (REI), StormX (STMX), Stratis (STRAX), and Troy. (TROY) is located. The exchange has announced that it will stop trading by removing the following trading pairs:
- ATA/BNB
- GLM/ETH
- KSM/ETH
- LOOM/ETH
- REI/ETH
- STMX/ETH
- STRAX/ETH
- TROY/BNB
Users can continue to trade the above assets on other trading pairs available on Binance. Binance will also end its strategy trading services for these spot trading pairs. These services will also be terminated during the delist. The exchange has given users an advice to avoid any potential loss. According to the exchange, “users are strongly advised to update and/or cancel their trading strategies prior to the expiration of strategy trading services.” Binance’s delisting news usually comes as the liquidity of the pairs in question decreases.
Binance’s challenge with FUD
Meanwhile, the largest cryptocurrency exchange is grappling with the panic that has engulfed the market. As we reported on cryptokoin.com, the CEO of the exchange, Changpeng Zhao, shared on Twitter what he thinks may be the reasons for the recent fear, uncertainty, and suspicion (FUD) surrounding the crypto exchange. In a lengthy Twitter thread on Saturday, CZ shared nine possible causes behind the latest FUD, all of which were external factors. First, CZ claimed that some attacked Binance because they were not fond of centralization and centralized platforms. Second, he said, some users who lose money in trading or experience external problems may blame the exchange. The crypto billionaire also drew attention to the increased competition and lobbying against the stock market.
CZ mentioned that some traditional media outlets working to protect traditional financial institutions from crypto corruption are playing a role in spreading FUD among the biggest players in the industry. However, he noted that traditional finance companies can protect themselves from crypto by lobbying against the industry. He also claimed that there were “generalizations”. As reported, Binance saw more than $3 billion in net withdrawals in 24 hours earlier this month as rumors about alleged problems with the platform continued to spread like wildfire.
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