Binance Announces Delisting of Multiple Tokens and Halting Trading Starting August 26, 2024

Introduction

This information is of great interest to users of the Binance cryptocurrency exchange. Binance has officially announced the delisting of several tokens and the cessation of all spot trading pairs for these tokens starting at 06:00 UTC on August 26, 2024. This event affects several tokens, such as PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF), and VGX Token (VGX).

Delisting Details

The list of trading pairs to be removed includes:

• CVP/USDT
• EPX/USDT
• FOR/BTC
• FOR/USDT
• LOOM/BTC
• LOOM/TRY
• LOOM/USDT
• REEF/TRY
• REEF/USDT
• VGX/USDT

All existing buy and sell orders will be automatically removed after trading ends. The valuation of these tokens will no longer be displayed in users' wallets after the delisting process is complete. Users should ensure that they do not select the “Hide Small Balances” option to view their assets after trading has stopped.

Important Dates and User Actions

• Deposits: Deposits of these tokens will not be credited to Binance accounts after 06:00 on August 27, 2024.
• Withdrawals: Withdrawals of these tokens will no longer be supported after 06:00 on November 26, 2024.
• Potential Conversion: Binance may convert delisted tokens into stablecoins on behalf of users starting at 06:00 on November 27, 2024. However, such conversion is not guaranteed and a separate notification will be made if appropriate.

Reasons for Delisting

The decision to delist these tokens was made following Binance’s periodic review process, which evaluates factors such as:

• The commitment of the project team
• Development activity
• Trading volume and liquidity
• Network stability and responsiveness to due diligence requests
• Contribution of the token to a healthy crypto ecosystem and its compliance with new regulatory requirements.

This underscores Binance's commitment to maintaining high standards for listed assets and providing the best services for its users.

Conclusion

Binance's decision to delist multiple tokens and halt trading pairs is driven by the need to maintain high-quality assets on the platform and comply with new regulatory requirements. Users are advised to take all necessary actions to secure their assets before the specified deadlines.