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Binance to Delist 4 Altcoins
Beyond its delisting plans, Binance has recently introduced new features and improvements to its self-custody crypto wallet, the Web3 Wallet. The world's largest crypto exchange has announced the removal of three major cryptocurrencies from Binance's spot and margin offerings. These cryptocurrencies include OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM). Shortly after the announcement, the prices of these cryptocurrencies dropped significantly.
Binance’s Plans for OMG, XEM, and WNXM
Binance shared the announcement today, stating that users will not be able to trade spot and margin pairs of OMG, XEM, and WNXM starting June 17. The exchange cites failure to meet industry standards and periodic requirements as the reason for delisting these cryptocurrencies.
Users have until September 17 to withdraw these tokens from the platform, as support for them will end on that date. Weeks before the delisting, Binance removed these tokens from Binance Simple Earn, Finance Auto-Invest, and Binance Loans. The exchange stated:
"When a crypto or token no longer meets these standards or the industry environment changes, we conduct a deeper review and potentially delist it. Our priority is to continue providing the best services and protections for our users while adapting to evolving market dynamics."
However, keep an eye out for official announcements from Binance Exchange
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