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CryptoIntelligence 2024-11-28 12:22:00

Tokens Crash As Binance Announces Delisting

Binance, the world’s largest cryptocurrency exchange by trading volume, announced plans to delist five tokens by December, citing non-compliance with industry standards. In a Nov. 26 announcement, Binance revealed it would delist trading pairs for Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN) by Dec. 10. Arbitrage strategies, loans, and futures positions for these tokens will be closed on Dec. 3, while isolated and cross-margin borrowing was suspended starting Nov. 27. This news triggered a sell-off, with token prices plunging nearly 40%, reducing them to mere cents. Binance, which lists 386 tokens and 1,275 trading pairs, recorded

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