War of exchanges

[Woodie]

I found this email strange from Whitebit exchange which required anybody holding Bnb on the exchange to withdraw it by the 17th of November , could this be payback to Binance for not bailing out FTX exchange when it had the capacity or is something else going on here? Out of curiosity what leads to the removal of a coin from being listed on the exchange besides bad performance or little to no liquidity??


**if i posted in the wrong thread ,would appreciate moving it**

[1715356220]

1715356220

[1715356220]

1715356220

[1715356220]

1715356220

[1715356220]

1715356220

[1715356220]

1715356220

[so98nn]

That’s weird to see, an exchange who had been asked about its legitimacy is removing the BNB from their list. Does not have any news on their social accounts regarding the reason behind its removal.

It would have been war of exchanges if every exchange out there started following similar path. I think it could be internal decision. Because if such spontaneous cycle of removing exchange coins started then everyone will end up removing their own TICKER from every exchange. Could impact the business badly.

[Die_empty]

I found this email strange from Whitebit exchange which required anybody holding Bnb on the exchange to withdraw it by the 17th of November , could this be payback to Binance for not bailing out FTX exchange when it had the capacity or is something else going on here? Out of curiosity what leads to the removal of a coin from being listed on the exchange besides bad performance or little to no liquidity??


**if i posted in the wrong thread ,would appreciate moving it**

There was no reason given for this action, that is why we might not ascertain Whitebit exchange intentions. BNB is not performing badly compared to other cryptocurrencies therefore there reason might not be because of bad performance. A customer can send a mail to them asking them their reason for de-listing the coin. We might have an answer from them. But I think the reason for this actions would soon be given with time. Lets just be patient, it would soon be unveiled.

[mindrust]

This is no good for crypto.

If my father ever taught me something, it is this:

"A pint of blood costs more than a gallon of gold."


Wars have no winners. Only losers.

Exchanges and their greedy CEO's are ruining crypto. We can't let that happen.

Maybe this is our chance to smarten up and give a chance to the decentralized exchanges.

[Oceat]

I misread it, I thought this was from Binance which causes me to find that interesting email but found nothing then I reread it again and oh it was from WhiteBit. lol

Why are they having war on crypto like this? This isn't good for their customers making a conflict because of their personal issues. I hope they resolved it in a civil manner. But if they continue their dispute display like this, they might be ready to lose both of their customers which is a good chance for the other exchange to invite/recruit them.

[Piesel]

We should be prepared for more bear market as this exchanges are causing panic within the cryptocurrency community and why this war will effect price of most commodities on the exchange is because exchange CEO and they teams are the whales we have in the market and we may see more of whales actions in the coming days.

Whitebits should have stated the reason for delisting BNB from their trading pair so that their clients will have a better understanding of what is happening rather than leaving them to speculate the reason behind the action of the exchange.

[Stalker22]

Looks like the info is legit. I found their tweet about it, but there is no explanation:


https://twitter.com/WhiteBit/status/1590745188955295746

I do not think that this is a war of exchanges. WhiteBit probably has its own reasons for delisting BNB, and maybe it is related to the war in Ukraine and Binance's policy regarding sanctions against Russia, or there is simply not enough volume trading BNB pairs.

[The Cryptovator]

Even whitebit a popular exchange? I am not aware really. Hadn't used this ever. So they want to hit Binance? I think it's quite impossible at the moment. Binance gains much popularity, and fighting with that won't lead to good anything. Any war in the crypto space just will make it worst. Already there is a problem with FTX and they file for bankruptcy. By removing BNB Whitebit will lose liquidity. It won't hurt BNB anyway. Binance is a few x better than whitebit IMO.

[serjent05]

I found this email strange from Whitebit exchange which required anybody holding Bnb on the exchange to withdraw it by the 17th of November , could this be payback to Binance for not bailing out FTX exchange when it had the capacity or is something else going on here? Out of curiosity what leads to the removal of a coin from being listed on the exchange besides bad performance or little to no liquidity??

It is possible but why I am thinking that Whitebit is taking advantage of the confusion to give short time notice to their client of withdrawing BNB from their exchange to confiscate any BNB that is not withdrawn on the given time.  It is only 6 -7 days' notice before they disable the withdrawal.  Most take at least a month before they stop processing the withdrawal.  I don't know why i had this feeling as I read the notice.

Anyway, I think it won't have a huge impact on the BNB economy, it will only give Binance exchange more users and trading transaction because those client who has Binance coin will look for another exchange to trade their Binance coin and most probably will choose the Binance exchange.

[cryptomaniac_xxx]

And what will be Whitebit reason for asking it's customers to withdraw BNB? And the timing of it?

Probably this is another reason why the prices goes down again to $16,600, because of them delisting BNB on their platform.

I read that because CZ is avoiding sanctions on Russia and Iran? Let's see what will be CZ response, will he delist WBT then on Binance then?

[Hispo]

This is very similar to what happened on Binance a couple of months ago, as far as I know Binance stopped the support to one of the major stable coins within the market: USDC, among others. I am not sure why, since I have not read in detail, but i assume it was to favor their own native stablecoin BUSD within their own platform.

In the end, exchanges are businesses and they are competitors among themselves, so I am not really surprised to see some of them taking advantage of their influence to push their own interests, which are mostly economic and strategic in nature, I don't agree with it, of course, but it is little we can do.

Considering how important is BNB in terms of Marketcap, it would seem this is indeed a retaliatory move against Binance.

[KingsDen]

And what will be Whitebit reason for asking it's customers to withdraw BNB? And the timing of it?

Probably this is another reason why the prices goes down again to $16,600, because of them delisting BNB on their platform.

I read that because CZ is avoiding sanctions on Russia and Iran? Let's see what will be CZ response, will he delist WBT then on Binance then?

In every industry that is some kind of internal competition but this competition is not made known to public. It is always internal and handled internally and not always out of hand. In fact it is a competition of smartness not a competition of hurting one another.
The whole saga happening recently is not in favour of cryptocurrency and its adoption.
I sincerely wish all this CEOs will retrace their steps and follow the right way for the sake of our dear crypto.

Whatever maybe  the case with Whitebit, they should be very careful because CZ is very smart and well prepared, people dealing with him should be very cautious of what they do.

[n0ne]

Looks like the info is legit. I found their tweet about it, but there is no explanation:


https://twitter.com/WhiteBit/status/1590745188955295746

I do not think that this is a war of exchanges. WhiteBit probably has its own reasons for delisting BNB, and maybe it is related to the war in Ukraine and Binance's policy regarding sanctions against Russia, or there is simply not enough volume trading BNB pairs.

We don't know what exactly happening within exchanges. WhiteBit might've got different reasons for the delisting of BNB from trading. But, this isn't the right time to do it. Now anything happening with the coins BNB and FTX will be connected with the ongoing exchanges war. According to me, the exchange could've given notification citing the reason for its immediate action than just providing deadline.

[livingfree]

Out of curiosity what leads to the removal of a coin from being listed on the exchange besides bad performance or little to no liquidity??


**if i posted in the wrong thread ,would appreciate moving it**

Lack of volume, lack of liquidity and so on.

But on this case, I doubt that BNB will have those factors to get removed from an exchange. Maybe there's sort of personal matter of them against Binance and what just happened when they didn't continue the deal with FTX.

There could be some serious info that we don't know until we ask this whitebit exchange on what's really the reason for delisting a top and known coin though owned by another exchange.

[_BlackStar]

I found this email strange from Whitebit exchange which required anybody holding Bnb on the exchange to withdraw it by the 17th of November , could this be payback to Binance for not bailing out FTX exchange when it had the capacity or is something else going on here? Out of curiosity what leads to the removal of a coin from being listed on the exchange besides bad performance or little to no liquidity??

I'm not really sure what the problem is, but it's probably FUD for Binance or BNB. However, without that, you really have to move the assets you don't trade to your wallet because maybe we're need move away from the current unhealthy market.

**if i posted in the wrong thread ,would appreciate moving it**

Move here: Bitcoin Forum > Economy > Marketplace > Service Discussion > Exchanges

[Lanatsa]

I found this email strange from Whitebit exchange which required anybody holding Bnb on the exchange to withdraw it by the 17th of November , could this be payback to Binance for not bailing out FTX exchange when it had the capacity or is something else going on here? Out of curiosity what leads to the removal of a coin from being listed on the exchange besides bad performance or little to no liquidity??


**if i posted in the wrong thread ,would appreciate moving it**

I havent heard off about Whitebit exchange and honestly its my first time.If this one is legit and telling things about delisting BNB then there's nothing we can do.We do know that in a market where competition

is high and support from one another could really happen.If this Whitebit does really look on Binance step or action had done on FTX then its up to them whether they would be doing or showing up some support
on each other or would really be not caring on whats happening currently with those competitors around.

Overall its not really something a good thing on seeing about exchangers does have these kind of actions considering it do really create out some mess up on the market.

[DoublerHunter]

~snip~
It would have been war of exchanges if every exchange out there started following similar path. I think it could be internal decision. Because if such spontaneous cycle of removing exchange coins started then everyone will end up removing their own TICKER from every exchange. Could impact the business badly.

^That is exactly, this is not considering war exchange because only one exchange did this not all exchanges, and probably if 5 exchanges will do the same thing, I think that boils down to considering there is an exchange war. But this could trigger a reaction from another exchange which is the same as they are destroying Binance because it is a big-name exchange, the competitor will always make happy to see this.
For now, let us wait for further results of this drama, I am doubtful that there is possible hidden agenda for this

[Potato Chips]

Try to ask them OP, perhaps you'll get an answer.

But giving a very short period of time for holders to withdraw send me alarms as it has always been an attempt to bag funds. I took a look at their past delistment tweets and it looks like this is the usual for them - giving 1-2 weeks time for people to withdraw. Another reason to not store your funds in an exchange.

I suggest paying a close attention to this (or just avoid them completely lol). I forgot the name of the exchange but frequent delisting + giving people very short period of time to withdraw was their scam scheme before halting withdrawals.

[bhooscream]

Wow, why is this problem getting more complex? The war between exchanges of course will continue to occur to bring each other down and increase their own exchange. But doesn't this actually make the crypto business worse?
I'm not very familiar with the WhiteBit exchange, but if a lot of people do something similar to smack each other and drop either BNB or other exchange coins, what are the worst consequences?

Every war of exchange is probably similar to the wars in the world. There may be 2 interests from certain parties, but the victim is the community. Is this one way to make the market drop even more? Or only certain coins? Of course, there will always be a hidden premise for everything. Yes, we as users and the public certainly hope, why not return to normal, normal conditions? But I remember again, this is the business world.

[S A KHAIR]

And what will be Whitebit reason for asking it's customers to withdraw BNB? And the timing of it?

Probably this is another reason why the prices goes down again to $16,600, because of them delisting BNB on their platform.

I read that because CZ is avoiding sanctions on Russia and Iran? Let's see what will be CZ response, will he delist WBT then on Binance then?

I have never heard of this exchange, how can an exchange with no reputation affect bitcoins? Bitcoin's drop was due to news surrounding FTX's bankruptcy filing and SBF's resignation. you try to check if the BNB trading volume on whitebit is almost zero so no one cares about this. if anyone holds BNB then everyone will use binance.