Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Major crypto exchange Binance has announced it will be delisting a few crypto assets from its platform. The recent delisting, numbering six, includes the following crypto assets: PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF) and VGX Token (VGX).
Binance stated that based on its most recent reviews, it has decided to delist and cease trading on all spot trading pairs for the aforementioned tokens on Aug. 26, 2024, at 3:00 a.m. (UTC).
Tomiwabold OlajideThe exact trading pairs being removed are CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/TRY, LOOM/USDT, REEF/TRY, REEF/USDT and VGX/USDT.
Dates to consider
The delisting of the CVP, EPX, FOR, LOOM, REEF and VGX pairs will be undertaken on different dates across Binance's platforms.
As stated in a blog post, deposits of the aforementioned tokens will cease after Aug. 27 at 3:00 a.m. (UTC). Withdrawals of these tokens from Binance will not be supported after Nov. 26, 2024, at 3:00 a.m. (UTC), in which they may be converted into stablecoins on behalf of users after Nov. 27 at 3:00 a.m. (UTC).
Binance Auto Invest and Binance Simple Earn will delist the tokens on Aug. 20 and 22, respectively, at 3:00 a.m. (UTC). On Aug. 20 at 3:00 a.m. (UTC), LOOM, REEF of Binance Loans (Flexible and Stable Rates) and EPX, LOOM, REEF of VIP Loan will close all outstanding loan positions for the aforementioned tokens as loanable and collateral tokens.
On Aug. 19 at 6:00 a.m. (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the LOOM/USDT, REEF/USDT symbol.
Binance Margin will delist CVP, EPX, FOR, LOOM and REEF from Cross and Isolated Margin on Aug. 20 at 6:00 a.m. (UTC). The CVP/USDT, EPX/USDT, FOR/USDT, LOOM/BTC, LOOM/USDT and REEF/USDT cross and isolated margin pairs will be removed from the Margin.
Binance Convert will subsequently delist the tokens and all associated pairs on Aug. 26 at 2:00 a.m. (UTC), while Binance Buy and Sell Crypto will do the same on Aug. 21 at 3:00 a.m. (UTC).
Binance Gift Card will delist the tokens mentioned above on Aug. 26, while Binance Pay will undertake this action on Aug. 21 at 3:00 a.m. (UTC). Binance will terminate Trading Bots services for the spot trading pairs of the named tokens on Aug. 26 at 3:00 a.m. (UTC).
Amid the delisting, the USDⓈ-M LOOMUSDT and REEFUSDT Perpetual Contracts trading remain unaffected, and users may continue trading.
Gamza Khanzadaev
Godfrey Benjamin
U.Today Editorial Team
Vladislav Sopov
Dan Burgin