Orhan 
Binance, one of the largest cryptocurrency exchanges in the world, has announced the delisting of five significant tokens following its periodic listing reviews. The affected tokens are Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN), which will be completely removed from the platform on specific dates.
Why Does Binance Delist Tokens?
In its announcement, Binance highlighted several key criteria that influence its delisting decisions. These include the commitment of project teams, trading volume, liquidity, network security, quality of public communication, and compliance with legal and regulatory requirements. Users are advised to prepare for this process and take necessary steps to protect their investments.
Important Dates for the Delisting Process
- Trading End Date:
- All spot trading pairs for these tokens will cease on December 10, 2024.
- Withdrawal Deadline:
- Users can withdraw these tokens from Binance until February 12, 2025.
- Margin and Futures Services:
- Trading for these tokens in margin and futures markets will end on December 3, 2024.
- Binance Pay and Convert Services:
- These services will no longer support the delisted tokens starting December 5, 2024.
Users are strongly advised to close any open orders, transfer their tokens to their Spot Wallets, and finalize margin positions to avoid potential losses.
The Reason Behind the Decision
Binance aims to maintain a high standard for assets listed on its platform, and delisting tokens that no longer meet these standards helps create a healthier investment environment. This move aligns with Binance’s commitment to ecosystem security and user protection.
The exchange reassured users that these decisions are made transparently and are designed to promote sustainable growth in the crypto market.
What Should Users Do?
To safeguard investments, users must act within the specified deadlines. Those needing additional guidance can refer to Binance’s official announcement or reach out to customer support. Binance believes this decision will contribute to the long-term stability of the cryptocurrency market.
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