Well, that is something I did not expect to read but I guess it was also a matter of time before regulators pressured Binance into taking such step. It is very sad news, I liked having Monero as an option to withdraw from Binance because of the very small withdrawal fees it had and the relatively fast transaction times compared to Bitcoin when the Mempool is congested.
Even though, this is indeed bad news for the price of Monero and other privacy coins, some people who are into them and like to preserve the right to privacy could argue that in the long term the exclusion of Monero from exchanges will benefit the community by forcing it to develop decentralized solutions for people to get access to liquidity and swaps. Who knows.

I have got the impression Monero is one of those projects wichi have a strong community and strong backing from developers and users, so this won't be the end of the coin or it's Blockchain. Let us see what happens next.
I'd wish there was a way to separate those who try to launder money from the legitimate users who just want to keep their privacy, by the way.

They are still popular among the people who care for their privacy... Those who don't, well, they use the mainstream coins. Monero especially is the flagship, the OG of all privacy coins.

Now I wonder... when will theymos ban discussing privacy coins because the authorities don't like them?

tI looks to me, sooner or later it will come to that.

That's a good thing, right? One doesn't just don't use KYC exchanges to buy privacy coins!
It's also a testimony to how well privacy coins work. Sure, Monero dropped 16% in dollar value over this, but that's just people speculating. Let me guess: they even kept their "privacy coin" on Binance's exchange? Lol.

Honestly, I don't see any reason for concern, much less the devaluation.

If the goal of XMR was to maintain privacy, what point did it make to use Binance's XMR? Privacy ends immediately, as KYC has to be done.

People chase news a lot and don't even think about it. Even worse were those who used XMR on Binance, and then came here to argue that XMR was better because of privacy.

I don't want to be here defending Binance, but in this case they are following proper procedures.

First, being a private company, they are not required to list all cryptos, or keep them listed forever.

Then, as mentioned in the OP link, Binance warned that it could withdraw XMR and others in June 2023, more than 6 months ago. And now it informs 20 days in advance that XMR will no longer be listed. Giving people enough time to withdraw their funds. Furthermore, if you do not do so, you will be able to convert XMR and other currencies into stablecoins after February 20th.


Therefore, in this case, I do not see any unfair attitude towards customers and it does not seem to me that they will deprive customers of their funds.

De-listing of XMR were expected. But I'm surprised that Zec is also included. Sure it is a privacy coin but I hadn't herd much about it being delisted on centralized exchange.
I personally have my binance ZEC address given to a site that provides me my weekly commission in ZEC. Now I need to change that address if they allow it.
Except for that, I don't hold any XMR and ZEC and have no plan of buying them. It hurts to see privacy based coins which are the true crypto-currency being attacked by the law enforcement but not much we can do against them and have no other options than to comply.

I just recovered from the panic mode and this post isn’t helping. Lol I don’t even hold too much money there btw. I am panicking because I don’t want to get fucked over even if it is a few bucks.

Yeah that hot wallet may never get filled again.

I saw the news earlier today and didn't take action. I should have been on a short to hedge against some of my XMR coins. I knew this was going to come when Binance bent the kneel to the US govt. It's only going to get worse for XMR as more exchanges will delist it as well. I think the plan is to remove  liquidity that privacy coins currently have to the bare minimum - enough to discourage people on its usage.

Sad to see an OG coin like XMR taking so much heat.

No?

You can trade anything you are allowed to on an exchange. What is the difference between trading btc or xmr on an exchange as long as you are not interested in withdrawing your XMR? To these people, XMR is just another asset like LTC, BTC, ETH or Doge... Its intrinsic value has no meaning to these traders. They will trade anything that breathes or moves. As long as it is going up and down and sometimes sideways, it can be traded.  

edit:

Down 30% weeeee

Well, we can still buy them on instant exchanges and we will get them for cheap. Don't we ?

Isn't it a good deal to buy some XMR outside binance and keep them in our personal wallet. I guess the use case of XMR will make it pump again soon once this binace drama is over. The whole dark web uses XMR, isn't ?