Crypto Exchange Binance (BNB) Issues Risk Warnings for These Cryptos: Reasons
Binance (BNB), the world's largest cryptocurrency exchange by trading volume, started issuing risk warnings for some altcoins it listed. First of all, the cryptos that changed tokenomics in the last 18 months will be affected by the new measures.
Binance (BNB) issues risk warnings for 10 altcoins, tokenomic adjustments to blame
Cryptocurrency exchange Binance (BNB) will demonstrate risk warning banners to inform its users of the radical tokenomics changes for some assets. To gain trading access to tokens marked with significant tokenomics changes, users will first need to acknowledge the pop-up notification, an official statement says.
In particular, the tokens that registered tokenomic changes or supply adjustments in the last 18 months will be labeled under a new policy.
Travala's AVA, CHZ by Chilliz, Enjin's Enjin Coin (ENJ), Lisk's LSK and other assets are mentioned in the first risk warning announcement.
However, IOTA is the most notable cryptocurrency on the list. As covered by U.Today previously, the protocol underwent a number of upgrades in the past year.
Tomiwabold OlajideAs of now, the project is working on the IOTA 2.0 iteration. One of the oldest altcoins in existence, IOTA is now the 132nd largest crypto by market cap.
More crypto tokens to be affected, Binance (BNB) says
Other notable examples include AVA, which is the first-ever cryptocurrency focused on bringing Web3 utility to the travel segment, and CHZ, an asset of the protocol that introduced fan tokens in 2021-2022.
Besides that, the "warning list" includes some low-cap assets such as Self Chain (SLF), Solar (SXP), Vanar Chain (VANRY) and Metal DAO (MTL). Also, the warning notification is valid for ORN, which is on borrowed time, as U.Today previously covered.
Binance (BNB) announced that due to transparency and customer protection reasons, other altcoins might also be subject to the risk warning banner and pop-up notification.
Arman Shirinyan
Alex Dovbnya
Dan Burgin