Binance, one of the leading BTC and altcoin exchanges, made two announcements recently. He said he was acting in line with efforts to maintain high standards and protect user interests. As part of this, he announced that he is aiming to remove several spot trading pairs from his platform. He also stated that he plans to delist certain tokens. Here are the details…
Binance delists eight trading pairs
Binance’s high standards and commitment to maintaining user security are evident through its regular review processes. The exchange conducts extensive assessments to ensure that crypto assets meet the required criteria and can adapt to changes in the industry. Altcoin exchange Binance will cease trading on the following spot trading pairs, effective August 18, 2023 at 06:00 CEST:
- CKB/BUSD
- FARM/BUSD
- ORN/BUSD
- REN/BUSD
- SKL/BUSD
- UFT/BUSD
- ZEN/BUSD
- ZRX/BUSD
It is important to note that users can continue to buy and sell these assets on other available altcoin pairs on the Binance platform. In addition, Binance will also stop the bots for the spot trading pairs mentioned above at the same date and time. Users using these services are strongly advised to update or cancel their Trading Bots before the services are stopped to avoid potential losses.
Three separate altcoins will be delisted
In addition, Binance may choose to exclude tokens that do not meet the specified conditions or keep up with emerging industry trends. Binance announced that it has delisted three tokens in line with these principles. These are as follows: SNM (SONM), SRM (Serum) and YFII (DFI.Money). These tokens will be delisted and stopped trading as of 06:00 on August 22, 2023. Binance’s decision reflects its commitment to user security and the overall improvement of the ecosystem. Among the factors considered in Binance’s review process is the commitment of the project team. In addition, the quality and level of development activities, transaction volume and liquidity, network security and stability are critical. Apart from these, there are public communication, response to demands, ethical behavior and contribution to the ecosystem.
Users are advised that all trading orders associated with delisted altcoin projects will be automatically removed after trading has ended on the respective trading pairs. Also, these tokens will not be able to be deposited into Binance accounts after August 23, 2023. It is important to note that withdrawal of these tokens from Binance accounts will also not be possible after November 22, 2023. Binance’s proactive approach to maintaining a safe and thriving cryptocurrency environment underscores its commitment to both the security of its users and the health of the broader blockchain ecosystem.
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