Binance Delist Announcement: Last Minute For These 11 Altcoins!
Binance, the world's largest cryptocurrency exchange by trading volume, has made a delisting announcement for various altcoin pairs. Here are the details of Binance's statement and the delisted altcoin pairs.
Binance delists some trading pairs
Binance, the world's largest cryptocurrency exchange with its daily trading volume, made an announcement today. According to the stock market's statement, Ark (ARK), BEAM (BEAM), Bitcoin Standard Hashrate Token (BTCST), Gifto (GTO), Mithril (MITH), PERL.eco (PERL), pNetwork (PNT), Augur (REP), Serum ( Some trading pairs for SRM), Tribe (TRIBE) and NEM (XEM) will be removed from the exchange.
According to the explanations, users can continue to buy and sell the above assets on other trading pairs available on Binance. Binance will terminate trading services for these spot trading pairs as of 06:00 CEST on 28 November 2022. Users are strongly advised to update their trading strategies prior to the expiration of strategy trading services to avoid any potential losses.
The stock market is in preparation for a $ 1 billion bailout fund
Alongside the delist or listing news, Binance has come up with rescue attempts for the crypto market, which has been crashing recently. Binance CEO Changpeng Zhao first announced the launch of an industry recovery fund to assist companies that “would be strong if not in the liquidity crisis” following the bankruptcy of cryptocurrency exchange FTX on Nov. On the other hand, the exchange has released its first pledge to show 1 billion Binance USD (BUSD), a fiat-based stablecoin issued by Binance and blockchain infrastructure platform Paxos.
The exchange said that the commitment could increase to 2 billion BUSD depending on the need. According to Paxos, BUSD has been approved by the New York State Department of Financial Services. It is also regulated. It is backed by 100 percent fiat cash reserves and US Treasury bonds. Binance noted that industry participants Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos and Brooker Group have committed $50 million in assets to the fund.
He added that more are expected to attend. In an interview with Bloomberg on Thursday, Zhao cited several developments. He also announced that Binance.US will also bid for bankrupt crypto lender Voyager Digital. Because he said FTX could not complete the company's agreed-upon acquisition.