Binance and Binance.US, the US branch of Binance, made critical statements. While BinanceUS’s BOND delist deeply affected the price of the altcoin, the global stock exchange announced that it would remove 10 altcoin pairs from the list. Here are the details…
BinanceUS delists BOND
In a recent announcement, Binance.US, the world’s largest cryptocurrency exchange, announced its decision to delist BOND, the native token of Ethereum-based decentralized finance (DeFi) protocol BarnBridge. This move comes after the US Securities and Exchange Commission (SEC)’s ongoing investigation into the DeFi project. Binance.US officially announced the delisting on its website with a statement outlining key details of the decision. According to the announcement, BOND deposit transactions will be closed at 08:00 on January 16, 2024. Simultaneously, swap transactions regarding BOND will also be stopped on the same day.
The cryptocurrency exchange announced that withdrawals for BOND will remain active until January 17, 2024. During this period, users will have the option to convert their BOND assets into USDT until the relevant trading pair is removed. cryptokoin.com As we reported, BarnBridge agreed to a fine of just over $1.7 million in response to the SEC’s allegations. This development has caused a significant impact on the market value of BOND, evidenced by a 10% drop from $3.62 to $3.28 in the last 24 hours. According to market data, BOND is currently trading at $3.38.
The decision to delist BOND is in line with Binance.US’ commitment to maintain a high standard of excellence and respond to market and regulatory changes. The exchange considers a variety of factors during its periodic reviews, including changes in risk profiles, contribution to a healthy crypto ecosystem, trading volume, regulatory status, development activity, network stability and community engagement.
Binance will hold delists for many altcoins on January 12
As part of its ongoing efforts to maintain a high-quality trading market, Binance, the world’s leading cryptocurrency exchange, has conducted a routine review of its listed spot trading pairs. As a result, Binance decided to delist several spot trading pairs due to factors such as poor liquidity and trading volume. Binance will cease trading on the following spot trading pairs starting January 12, 2024 at 06:00 UTC: CITY/BTC, COS/BNB, COTI/BNB, FLOKI/TUSD, FUN/BNB, HIFI/ETH, LTC/UAH, MULTI/ BTC, PSG/BTC.
It is important to note that the delisting of these spot trading pairs does not affect the availability of the tokens on Binance Spot. Users can continue to buy and sell the base assets of the affected pairs in other trading pairs available on the platform. Additionally, Binance will simultaneously discontinue Spot Trading Bots services for the specified spot trading pairs. To reduce potential losses, users are strongly advised to update or cancel their Spot Trading Bots prior to discontinuation of services.
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