Why Binance exchange delisting the crytop currencies and the sport trade pairs

[EluguHcman]

Can someone who is more technical tell about what is going on with Binance the cryptocurrencies exchange?
Just as they were faced with some criminal issues, they have been taking whole lot of elimination actions of delisting over ten sport trades in their marketplaces as at last week with undefined relatable reasons.
Now they are set to delisot BTS/USDT, WTC/BTC, PERL/USDT, WTC/USDT and others out of their marketplaces by the Dec-7th-2023 with the reasons that it is a caused of the digital currencies being unable to meet up with its tasks and poor level of operations.

What I don't understand is that why are they taking this actions at this time even as they faces this high level of criminal case which was to tanish their reputation?

Is there something technical that is not Worth publicly exposed/expressed?

Why don't they feel the guilt of losing the affiliated clients that was to profit them as they delisted them above?

Are they just realizing the inabilities, insecured and the poor possessions of the delisted industry just of recent? Or they have been on track before these days?

I am curious to understand this because I leans my Bitcoins to the Binance crytop currency exchange.
https://cryptopotato.com/important-binance-will-delist-the-following-cryptocurrencies-on-december-7th/

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[Yogee]

I doubt the delisting has anything to do with the cases they recently agreed to settle or any regulatory issues. They have a set of criteria before coins or tokens are to be delisted and they've listed it in their announcement https://www.binance.com/en/support/announcement/binance-will-delist-bts-perl-torn-wtc-on-2023-12-07-d24dd4a035c443b1ad8cf49f60b9d194

I don't know anything about these coins and tokens but the major factor is probably trade volume and further project development.

[Aanuoluwatofunmi]

I addition to what you have said, i think there was an announcement made already concerning their actions before they started it, do some were well aware that some certain coins will be delisted, what we should make sure we do is to investigate well in any cryptocurrency we are going for and make our research properly before choosing anyone, then after investing, we should take our asset off the exchange to a personal wallet which is a non custodial wallet, in doing this, we are free from any form of dramas that may be happening.

[kentrolla]

Binance usually keeps delisting those coins and pair which don't meet certain criteria, I have seen Binance delisting coins when they are heavily manipulated like it did with a coin named Nebilo where the price of coin were heavily manipulated as Binance cannot afford to lose out on its reputation by having projects listed in it's exchange which are very volatile and it's prices being controlled hence they removed Nebilo and I guess same logic applies to some of these coins .

[Baofeng]

If I'm not mistaken, coins are being delisted not just by Binance but any other crypto exchange is the coin is not that active, i.e low trade volumes or the people behind just forget about that project, thus becoming inactive.

This is the link for their official announcement as to what coins are to be delisted:

https://www.binance.com/en/support/announcement/binance-will-delist-bts-perl-torn-wtc-on-2023-12-07-d24dd4a035c443b1ad8cf49f60b9d194

And with that, you can convert your coins that is in the list to stable coins to be able to still make money out of it and get your investments back whether you are in a +/- profit.

[pawel7777]

What I don't understand is that why are they taking this actions at this time even as they faces this high level of criminal case which was to tanish their reputation?

As others said, this is probably unrelated, and I'd be guessing this is just a routine procedure of cleaning up the site from low-volume pairs. Have they only removed certain pairs or stopped supporting the listed altcoins?
Nevertheless, I'd imagine they would notify users somehow before that happened, either by making an announcement somewhere on their site or by sending emails (to those subscribed).

Speaking about the recent events and the settlement penalty - I don't think people comprehend how huge amount that is. They'll be paying penalties exceeding $4 billion, which is the highest in history. There must be some panic and disruptions going on in their operations, which could have some effect on their customers eventually, but I wish them all the best.

[sunsilk]

I believe this thread should be on Service Discussion than Speculation. Yeah, we're speculating but this section is all about speculations for Bitcoin and not for what happened to certain exchange and why it has to delist some pairs.

These delistings are pretty common for exchanges especially Binance and they've got standards and reasons for doing so.

Maybe this article will give some light why they had to do it: Binance Will Delist BTS, PERL, TORN, WTC on 2023-12-07

[Pursuer]

if you go to each of those markets on Binance or even on Coinmarketcap you can see that these coins don't have enough volume to be considered profitable from the exchange's point of view.
for example if you change the time steps in the https://coinmarketcap.com/currencies/bitshares/ page to 1 month you can see that excluding the recent dump of BTS, it was pretty much a dead market with little to no volume. and the recent dump is obviously caused by this news and people are panic selling this shitcoin to get rid of it prior to the delisting.

[cabron]

if you go to each of those markets on Binance or even on Coinmarketcap you can see that these coins don't have enough volume to be considered profitable from the exchange's point of view.
for example if you change the time steps in the https://coinmarketcap.com/currencies/bitshares/ page to 1 month you can see that excluding the recent dump of BTS, it was pretty much a dead market with little to no volume. and the recent dump is obviously caused by this news and people are panic selling this shitcoin to get rid of it prior to the delisting.

BTS is one of the oldest DEX in crypto. It used to have a good price and volume and since Larimer abandoned this project the community lost interest as well.

I went over to the list of tokens delisted and here are some reasons they said these tokens lack which same reason they were also delisting some tokens before 2020. Anything If they are not making money, they will remove the pair or worse the token.

Level and quality of development activity
Trading volume and liquidity
Stability and safety of network from attacks
Network / smart contract stability
Level of public communication
Responsiveness to our periodic due diligence requests
Evidence of unethical/fraudulent conduct or negligence
Contribution to a healthy and sustainable crypto ecosystem

[Pursuer]

if you go to each of those markets on Binance or even on Coinmarketcap you can see that these coins don't have enough volume to be considered profitable from the exchange's point of view.
for example if you change the time steps in the https://coinmarketcap.com/currencies/bitshares/ page to 1 month you can see that excluding the recent dump of BTS, it was pretty much a dead market with little to no volume. and the recent dump is obviously caused by this news and people are panic selling this shitcoin to get rid of it prior to the delisting.

BTS is one of the oldest DEX in crypto. It used to have a good price and volume and since Larimer abandoned this project the community lost interest as well.

I went over to the list of tokens delisted and here are some reasons they said these tokens lack which same reason they were also delisting some tokens before 2020. Anything If they are not making money, they will remove the pair or worse the token.

people have always lost interest in altcoins after a while specially when they stop being pumped which makes them unprofitable for the altcoin traders.

[peter0425]

delisting happens not just overnight , meaning they are having advance announcement about the delisting in which
all holders and investors and also the dev must be aware and be ready what will happen sooner.

so I think this is nothing to do with what is happening inside the company and the settlement  to government of US .

and also I believe that delisting comes from the performance of the said coins , because Binance will not tolerate a
not moving coins as this will only add numbers to their lists when they can put that
spot to other good performing currencies.

[Minor Miner]

This is not the first time they have delisted some trading pairs, and they are not the only exchange to do this. Exchanges need to maintain their reputation and when a coin no longer meets their standards they have the right to remove it whenever they want. Why are you surprised and blame them?, why don't you blame those useless coins?

On the other hand, this has nothing to do with the trouble they are having with the SEC. If you don't like using them, you can simply delete your account and choose another exchange. This is just business and there's more to it than that, if you don't understand there's no need to be upset with them.

[pinggoki]

Binance usually keeps delisting those coins and pair which don't meet certain criteria, I have seen Binance delisting coins when they are heavily manipulated like it did with a coin named Nebilo where the price of coin were heavily manipulated as Binance cannot afford to lose out on its reputation by having projects listed in it's exchange which are very volatile and it's prices being controlled hence they removed Nebilo and I guess same logic applies to some of these coins .

Exactly, OP seems to be trying to make it look like these two events are somehow connected but Binance has been doing this even before this AML investigation has been surfacing so basically the only explanation to this is that Binance is just doing business as usual and they can't afford to stop because their CEO was replaced because he stepped down, it's just a coincidence that there's a lot of tokens that got delisted while the issue is still at it's hottest.

[FinneysTrueVision]

Can someone who is more technical tell about what is going on with Binance the cryptocurrencies exchange?
Just as they were faced with some criminal issues, they have been taking whole lot of elimination actions of delisting over ten sport trades in their marketplaces as at last week with undefined relatable reasons.
Now they are set to delisot BTS/USDT, WTC/BTC, PERL/USDT, WTC/USDT and others out of their marketplaces by the Dec-7th-2023 with the reasons that it is a caused of the digital currencies being unable to meet up with its tasks and poor level of operations.

I honestly thought BitShares was a dead coin. I haven't heard news about it in several years. Waltonchain is also an old coin that had become irrelevantafter some scammy behavior. I don't know if the Tornado Cash token is associated with the mixer but Binance probably doesn't want to be associated with something that has been sanctioned by the US government. The other tokens I haven't heard of but I assume they are dying projects with very little volume.

[Davidvictorson]

It is not just Binance that do this. Other exchanges like Coinbase, Robinhood, have also delisted certain crypto currency pairs and one of the reasons they did it was due to regulatory concerns. Another reason which I think the delisting was for is due to the decline in trading of these pairs. I feel like they have become utterly useless and just both in the number of persons who hold them and trade them. Basically, the goal is to optimize the trading environment. 

[armanda90]

Some coins have delisted from Binance regarding not raise their criteria such as low transaction volume last one month until many factor must delisted, I don't think huge problem when any coins delisting from Binance regarding available for other other exchange for selling coins have delist in Binance. I think all coins below BTS/USDT, WTC/BTC, PERL/USDT, WTC/USDT not reach Binance criteria with drop transaction volume and make them as stable coins without any interested for Binance and can't give benefit with fee trading for the exchange. When some coins become stable and dropped with transaction volume can't give benefit for the exchange listed coins with investor not interested for trading with coins have lower transaction volume.

Be warning for holder with coins have been delisted from Binance to withdraw and sell on the other exchange still have buy and sell order before the listed exchange will delist just did by Binance.

[rodskee]

Delisting happens in all exchange mate and not only in Binance so lets not make this an issue while
Binance is facing a serious problem now not only in US but in other part of the world also, delisting coins happens
if the exchange felt like that coin isn't performing great and will be a burden for them to still hold , so the exchange
will decide to delist but there is a specific time  before that happen so i think this is just another normal thing .

[hugeblack]

The logical question might be: Why did Binance list them? These shticoins are dead and are pumped out from time to time. Therefore, after a while, their trading volumes are very low, and the cost of running the servers to keep these currencies active is higher than the total circulation, so they are removed. Have you ever wondered why Binance did not remove Bitcoin or the first 100 cryptocurrencies without there being any Legal reason? They will not do this as long as there is active trading, which is not currently happening.

[EluguHcman]

Well... I was curious and concerned about this if maybe those shitcoins were in times released of being illegitimately in operations and their inability potentials to proffer investors goals or maybe the eligibility of the shitcoins and the sport trade exchanges were exposed to undergoing any form of undependable possessions.
Maybe Binance were due to taking actions of maintaining its reputations.

[irhact]

Can someone who is more technical tell about what is going on with Binance the cryptocurrencies exchange?
Just as they were faced with some criminal issues, they have been taking whole lot of elimination actions of delisting over ten sport trades in their marketplaces as at last week with undefined relatable reasons.

This isn't a technical question to need someone more technical to answer you and Binance move of dislisting those altcoins doesn't have anything to do with the recent events of criminal charges that Binance cryptocurency exchange is facing. Before they got fine they were delisting tokens already and this is because of low trading volume. Binance exchange wants to make profits therefore they're removing projects that isn't giving them profits to make space for new ones.

All attention will be pushed towards the new project that Binance will list during the bull market. Delisting those old coins will make their customers not to Invest in them but invest in the new tokens that'll have more hype and give Binance exchange more profits due to the high trading volume. Altcoins that don't have hype will have less trading volume and will be delisted from top exchanges. Other centralized exchange are delisting altcoins too that have low volume.