Binance has announced its intention to delist multiple tokens in the coming weeks.
In a press release published today, October 23, the exchange confirmed that it will remove several tokens, including Unifi Protocol DAO (UNFI), Ooki Protocol (OOKI), Keep3rV1 (KP3R), and Rupiah Token (IDRT).
The delisting is set for November 6 at 03:00 UTC, at which point all trading pairs linked to these tokens, such as UNFI/BTC, OOKI/USDT, and KP3R/USDT, will be halted.
Binance stated that its decision was influenced by factors like project development activity, network stability, and compliance with regulatory standards. It emphasised that these measures are intended to safeguard users and maintain a robust trading environment in the cryptocurrency space.
Users were advised holding these tokens should take action before specific deadlines. While spot trading for these tokens will end on November 6, Binance has outlined earlier milestones for margin trading, futures contracts, and other services. Isolated margin borrowings for these tokens will be halted on October 25, and position closures are scheduled for October 31. Users are advised to settle their positions and transfer assets to avoid losses.
After delisting, deposits of these tokens will be unavailable starting November 7. However, Binance will allow withdrawals until February 6, 2025. The exchange has also mentioned the possibility of converting the delisted tokens into stablecoins, but this is not guaranteed.
This announcement followed Binance’s removal of several margin trading pairs on September 24, 2024, at 06:00 UTC. The affected pairs included CHZ/FDUSD and CLV/BTC for both cross and isolated margins, along with RAD/BTC for isolated margins.
The trend of delistings continues in the crypto space, with Kraken announcing the delisting of Monero (XMR) for users in the European Economic Area (EEA) due to regulatory requirements. Trading and deposits for XMR/USD and XMR/EUR ended on October 31 at 15:00 UTC, with all open orders closed at that time. The exchange stated that this difficult decision was necessary to comply with growing scrutiny on privacy coins.
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