Crypto exchange Binance made an important announcement earlier today. It will delist and stop trading on all spot trading pairs for four tokens. These include Rupiah Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI) and Unifi Protocol DAO (UNFI). The trading will officially cease on Nov. 6 at 3:00 a.m. (UTC).
It was revealed that the exact trading pairs will include KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT and USDT/IDRT. The Binance Simple Earn program will also remove these tokens, while both deposits and withdrawals will not be allowed after the specified date. In addition, Binance Futures will completely close all positions for these tokens.
In its official blog announcement, the crypto exchange revealed that they follow strict industry requirements. Binance said that they regularly review each coin listed on the platform to ensure that the digital assets consistently meet industry standards and requirements. Once Binance discovers that a certain coin has failed to meet these requirements, a more in-depth review is conducted. After this review, the trading platform can decide to delist the coin or token.
Binance remains committed to user safety
Binance said that the exchange remains committed to providing high-quality services and protections to its wide range of users. The platform also highlighted its commitment to the widely changing market landscape. This vision plays a crucial role when assessing a coin and making a decision to delist it. IDRT, KP3R, OOKI and UNFI are lesser-known coins, and Binance may have found some irregularities in them.
There are a number of factors behind this delisting other than those mentioned above. The end goal appears to be the safety of users, while providing them with a more secure and safer trading environment. Binance is the largest exchange in terms of trading volume, and it has to ensure user safety and protection to consistently provide top-notch services.
Gamza Khanzadaev
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin