Binance Removes Five Altcoins from Platform
Date: 2024-11-27 Author: Henry Casey Categories: BUSINESS
Binance announced that it will stop supporting Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN). From this date, all trading pairs with these tokens will be removed, and deposits will no longer be accepted from December 11, 2024. Users will be able to withdraw funds in these coins until February 12, 2025. However, those who fail to withdraw before the specified deadline may lose their assets.
The platform representatives warned that the delisting will affect several key services, including Binance Simple Earn, Margin Trading, Futures, and Spot Copy Trading. Users of these services are advised to close or roll over their positions in advance to avoid losses.
The decision to remove the coins is based on regular project evaluations that Binance conducts as part of its quality control. The criteria for analysis include development activity, trading volume, network security, and compliance with modern regulatory requirements. The company noted that such measures are aimed at increasing the level of security and improving the quality of the platform.
The removal of tokens also reflects Binance's preparation for changing market conditions. The company emphasized that such steps allow it to maintain the reliability of the platform and focus on new user needs.
Meanwhile, a recent post by Binance founder Changpeng Zhao on the social network X has attracted the attention of the crypto community. In the message, he noted that memecoins have become "a little weird" and called for focusing on creating real applications for the blockchain. This statement gave rise to speculation that Binance may refuse to support memecoins in the future, despite their popularity among traders.
