In a significant move, Binance has announced the termination of trading services for three cryptocurrencies: StaFi (FIS), REI Network (REI), and Voxies (VOXEL). This decision, effective December 17, 2023, follows a thorough review of the tokens' compliance with the exchange's stringent criteria, and according to the results published in the material, the exchange aims to ensure a secure trading environment for its users.
Review Process and Factors Considered
The review process considered various factors, including the commitment of the development teams, ongoing development activity, and overall community sentiment towards the projects. As a result of this announcement, the prices of the affected tokens have already begun to decline, reflecting market reactions to the news.
Trading Cessation and Withdrawal Timeline
Following the cessation of trading, Binance will halt deposits for these cryptocurrencies after December 18, 2023. Additionally, users will be unable to withdraw their holdings after February 16, 2026, marking a definitive end to trading for these tokens on the platform.
Following Binance's recent decision to halt trading for certain cryptocurrencies, BNB Chain and Solana have also faced declines in transaction volumes and fees. For more details, see the full analysis here.
