One of the world's leading cryptocurrency trading platforms, Binance has sparked reactions across the crypto community after issuing a major update on its crypto offerings.
The exchange announced today that it will remove twelve cryptocurrencies from its alpha platform during the latter hours of Friday, September 4.
Binance's delisting details
Following a recent announcement shared by Binance, the exchange revealed that it will remove MTP, BDXN, TALE, among nine other cryptocurrencies later today.
Other crypto assets scheduled for the delisting include the following: BOS, MAIGA, TIMI, U (Union), SERAPH, RVV, AIAV, PENGUIN, and SN3.
Although the delisting will take effect today, only deposits for the aforementioned tokens will be affected for now. Notably, Binance confirmed that users will still be able to withdraw or sell the affected tokens after they are removed from Binance Alpha.
As such, holders of the tokens do not need to panic as they will not immediately lose access to their assets when the tokens are removed from the platform today.
Although Binance did not specifically state the reason behind the move, it is a measure often taken by the exchange after a specified period of strict assessment of certain tokens that may have been considered highly volatile or vulnerable to manipulation.
Binance urges holders to withdraw tokens
Binance has offered its users the option to either withdraw their funds to other wallets or sell them on the exchange following the delisting.
Users who have decided to withdraw their tokens can do so by navigating to "Assets", then "Alpha", then "Withdraw" on Binance Alpha and selecting the concerned cryptocurrency.
Nonetheless, users who want to sell the assets are required to select the token under the Alpha section and choose "Instant," then "Sell."
Dan Burgin
U.Today Editorial Team
