Binance suspended trading pairs for 6 altcoins in an announcement dated November 28. The new week starts with the delist news of various exchanges.
Binance is delisting these trading pairs as of December 2
The largest centralized crypto exchange has announced that it will cease trading on the following pairs. Users will have until December 2 for final transactions.
- Cross margin pairs: CVC/USDT
- Isolated margin pairs: BEAM/USDT, BTCST/BUSD, CVC/BTC, CVC/USDT, MITH/USDT, PERL/USDT, REP/USDT
The exchange will keep trades open until November 30 for pairs it has delisted in isolated margin. On December 2, all trades close for BEAM/USDT, BTCST/BUSD, CVC/BTC, CVC/USDT, MITH/USDT, PERL/USDT, and REP/USDT. Binance users must close their positions before this date.
CZ makes new statements about proof-of-reserve audit
Binance CEO has rolled out proof-of-reserve (PoR) audits that will allow public audits of centralized exchanges after events around FTX. While all centralized exchanges are keeping up with the trend, some reports claim that proof of reserve is deceptive. One of them was Binance’s $2 billion transfer of 127,351 Bitcoins. The massive Bitcoin transaction triggered instant FUD in the community. Many noted that Binance moved a fortune’s worth of BTC in a single transaction. CZ then took to Twitter to announce that the big transaction was part of Binance’s PoR audit process. He also urged the community to remain calm and ignore FUD, saying:
Auditors want us to send ourselves a certain amount to show that we have checked the wallet.
In response to the growing concern in the responses, the Binance CEO posted another tweet arguing that investors who “always believe in FUD” are “likely to be poor”. cryptocoin.com As we have reported, CZ recently announced the reserves of its stock exchange on Twitter.
Investors are now more sensitive to centralized exchanges
Binance’s recent transaction received an immediate reaction from the crypto community. CZ previously explained that it is bad for exchanges to carry large amounts of crypto to prove wallet addresses:
If an exchange has to move large amounts of crypto before or after revealing their wallet address, that’s a clear sign of problems. Stay away.
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