Binance is making changes to its offerings by delisting three major cryptocurrencies from its spot and margin trading options: OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM). Following this announcement, the prices of these cryptocurrencies dropped significantly.

Binance's Plans for OMG, XEM, and WNXM

Today, Binance announced that users will no longer be able to trade spot and margin pairs of OMG, XEM, and WNXM starting June 17. The exchange cited 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. Prior to the delisting, Binance removed these tokens from Binance Simple Earn, Finance Auto-Invest, and Binance Loans. The exchange stated:

"When a cryptocurrency 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, it's essential to watch out for official announcements from Binance Exchange.