Binance Crypto Exchange announced the first major delist of digital assets, under which the cryptocurrency Bytecoin, Iconomi, ChatCoin and Triggers will be withdrawn from the auction.
— Binance (@binance) October 9, 2018
The delisting of all trading pairs with BCN, CHAT, ICN, and TRIG will be held on Friday, October 12, after which the possibility of withdrawing these assets will remain for another month.
“In order to protect our users, the Binance team conducts comprehensive and periodic reviews of each digital asset listed on our platform to ensure projects maintain a high standard of quality. In the event a coin or token falls below this quality standard, it will be subject to further review and potentially delisted,” the exchange said.
Among the evaluation criteria, Binance discloses some factors that inform their decision to delist digital assets: Commitment of team to project, Quality and level of development activity, Network / smart contract stability, Level of public communication and activity, Responsiveness to our periodic due diligence, Evidence of unethical / fraudulent conduct and Contribution to a healthy and sustainable crypto ecosystem.
The exchange does not specify exactly which conditions were violated by the developers of these projects. Nevertheless, against the background of the announcement, they all noticeably slipped in price – Bytecoin fell by 17%, Iconomi – by 8%, ChatCoin – by almost 20%, Triggers – by more than 37%.
In the past, Binance only once resorted to the practice of delisting cryptocurrency, when they removed the token ICO Centra, the organizers of which, were accused of fraud.
The Binance exchange, leading in daily trading volume, team yesterday announced, that they will send all commissions for listing new tokens to finance charitable initiatives.
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#Binance Listing Fee Update:
Starting immediately, and going forward, Binance will make all listing fees transparent and donate 100% of them to charity. @BinanceBCFhttps://t.co/addXONK0Ip pic.twitter.com/8WrEfnmz3V
— Binance (@binance) October 8, 2018