This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics.
When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset:
Commitment of team to projectLevel and quality of development activityTrading volume and liquidityStability and safety of network from attacksNetwork / smart contract stabilityLevel of public communicationResponsiveness to our periodic due diligence requestsEvidence of unethical/fraudulent conduct or negligenceNew regulatory requirementsContribution to a healthy and sustainable crypto ecosystem
Based on our most recent reviews, we have decided to delist and cease trading on all spot trading pairs for the following token(s) at 2024-11-06 03:00 (UTC):
Rupiah Token (IDRT)Keep3rV1 (KP3R)Ooki Protocol (OOKI)Unifi Protocol DAO (UNFI)
Please note:
The exact trading pairs being removed are: KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT, USDT/IDRTAll trade orders will be automatically removed after trading ceases in each respective trading pair.The token's valuation will no longer be displayed in your wallet after delisting. To view your assets after trading ceases, please ensure you have not selected “Hide Small Balances” in all of your wallets.Deposits of these token(s) after 2024-11-07 03:00 (UTC) will not be credited to your account. Withdrawals of these token(s) from Binance will not be supported after 2025-02-06 03:00 (UTC).
Delisted tokens MAY be converted into stablecoins on behalf of users after 2025-02-07 03:00 (UTC). Please note that the conversion of delisted tokens into stablecoins is NOT guaranteed. A separate notification will be made before the conversion where applicable, and the stablecoins will be credited to users’ Binance accounts after the conversion.
Binance Simple Earn will delist the token(s) mentioned above after 2024-11-04 03:00 (UTC). Users may choose to redeem their Flexible Products positions beforehand. Otherwise, these Flexible Products positions will be automatically redeemed at the above-mentioned time, and subsequently transferred to users’ Spot Wallets, together with any accrued rewards. At 2024-10-31 03:00 (UTC), KP3R, OOKI, UNFI of VIP Loan will close all outstanding loan positions for the aforementioned token(s) as loanable token(s) and collateral token(s). Users are strongly advised to repay their outstanding loans before 2024-10-31 03:00 (UTC) to avoid any potential losses, where applicable.Binance Futures will close all positions and conduct an automatic settlement on the UNFIUSDT USDⓈ-M Perpetual Contract at 2024-10-30 09:00 (UTC). The contracts will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the aforementioned contracts starting from 2024-10-30 08:30 (UTC). In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the UNFIUSDT USDⓈ-M Perpetual Contract without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. At 2024-10-30 09:00 (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the UNFI/USDT symbol. The pair will no longer be available for opening new arbitrage strategies upon delisting.Binance Margin will delist KP3R, OOKI, UNFI from Cross and Isolated Margin at 2024-10-31 06:00 (UTC). The KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/USDT cross and isolated margin pair(s) will be removed from Margin. At 2024-10-25 06:00 (UTC), Binance Margin will suspend isolated margin borrowings on the aforementioned isolated margin pair(s). At 2024-10-31 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned isolated margin pair(s), which will then be removed from isolated margin.At 2024-10-25 06:00 (UTC), Binance Margin will suspend cross margin borrowings on the aforementioned token(s). At 2024-10-31 06:00 (UTC), if users hold both collateral and liabilities of the aforementioned token(s), the collateral will be used to repay the respective liabilities. If there are remaining collateral or liabilities of the aforementioned token(s), one of two options below will occur:If users only hold the aforementioned token(s) in the form of collateral: If the Collateral Margin Level (CML) is above 2, the aforementioned token(s) will be transferred to users’ Spot Wallets, up to the point when the CML reaches 2. The remaining tokens in their Cross Margin accounts that are to be delisted will then be fully sold. If the CML is below 2, the remaining tokens in users’ Cross Margin accounts that are to be delisted will be fully sold. If users only hold the aforementioned token(s) in the form of liabilities:If CML is at or above 2, pending orders will not be affected. If the CML is below 2, all pending orders in their Cross Margin accounts will be canceled. The system will then sell other collateral tokens to buy and fully repay the delisting token(s)’ liabilities.Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2024-10-31 06:00 (UTC). Binance will not be responsible for any potential losses.Portfolio Margin users are advised to transfer the aforementioned token(s) out of their Margin Wallets to their Spot Wallets and to top up their margin balance before 2024-10-31 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the aforementioned token(s) from the Margin Wallet. All KP3R, OOKI, UNFI balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from 2024-10-31 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information.Binance Convert will maintain a Sell-only function for the aforementioned token(s) and all associated pairs from 2024-11-01 03:00 (UTC) to 2024-11-06 02:00 (UTC). Binance Convert will subsequently delist the aforementioned token(s) and all associated pairs at 2024-11-06 02:00 (UTC)Convert Low-Value Assets will delist the token(s) mentioned above at 2024-11-05 02:00 (UTC). Users may choose to convert the low-value assets beforehand. Binance Auto-Invest will delist the token(s) mentioned above after 2024-10-31 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.Binance Buy & Sell Crypto will delist the aforementioned token(s) and all associated pairs at 2024-11-01 03:00 (UTC).Binance Gift Card will delist the token(s) mentioned above at 2024-11-06 03:00 (UTC) Users are encouraged to manage Gift Cards containing these token(s) in advance to avoid any inconveniences.Binance Pay will delist the aforementioned token(s) at 2024-11-01 03:00 (UTC).Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2024-11-06 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.Binance Spot Copy Trading will delist the aforementioned spot trading pairs on 2024-11-05 03:00 (UTC) - after this time, any outstanding spot trading pairs will be moved to the spot wallet. Users are strongly advised to update or cancel their Spot Copy Trading portfolios prior to 2024-11-05 03:00 (UTC) to avoid potential losses.There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.
Thank you for your support!
Binance Team
2024-10-23

According to Cointelegraph, the European Commission has announced the addition of 41 authorities and regulators to the second cohort of its European Blockchain Sandbox Initiative (EBSI). These regulators hail from 22 countries within the European Union and the European Economic Area, including France, Spain, The Netherlands, Italy, Greece, Slovenia, Germany, Cyprus, Portugal, Bulgaria, Belgium, Denmark, Norway, Latvia, Malta, Poland, Hungary, Slovakia, Iceland, Liechtenstein, Lithuania, and the Czech Republic.

The EBSI was launched to support use cases involving distributed ledger technology (DLT) and aims to provide a framework for blockchain projects, regulators, and authorities to engage in dialogue. This initiative seeks to identify legal and regulatory obstacles to blockchain innovation and increase regulatory certainty for decentralized technology solutions. The European Commission stated that the sandbox will allow regulators and supervisors to enhance their knowledge of cutting-edge blockchain technologies. Legal advice and regulatory experience will be provided in a safe and confidential environment.

Each year, the EBSI will support 20 projects that build use cases based on blockchain technology. These projects will be selected based on criteria such as business maturity, legal relevance, and contribution to EU policy priorities. The selected projects will receive legal and regulatory advice from the law firm Bird & Bird and will have the opportunity to discuss regulatory questions with participating regulators.

On June 13, the EBSI announced the companies selected to join its second cohort. These companies have use cases ranging from real-world asset (RWA) tokenization to blockchain-based digital passports. Among the selected projects is Iota, a crypto ecosystem and open-source distributed ledger. Iota stated that being selected for the EBSI is a significant milestone for its identity solution, opening the door to discussions on KYC and privacy in Web3. This is particularly relevant as many regulators are currently considering their approach to decentralized finance (DeFi).

The post US FED Interest Rate Decision Day : Will This Spark a Crypto Rally or Crash? appeared first on Coinpedia Fintech News

Get ready for a market shake-up! As the Federal Reserve prepares to announce its interest rate decision on September 18, 2024, market participants face unprecedented uncertainty. Yesterday, The Kobeissi Letter underscored this uncertainty, projecting a 50 basis point cut with a probability ranging from 2% to 59%. This crucial decision will significantly impact various asset classes, including cryptocurrencies, which are bracing for substantial movements based on the Fed’s actions.

So buckle up—big changes are on the horizon!

Impact of Fed Rate Cut Predictions 

Joe McCann, CEO of Asymmetric, a prominent crypto hedge fund, has weighed in on the potential impacts of the Fed’s decision. With the Fed set to reduce rates from their 24-year high of 5.5%, there is a debate between a 25 basis point (bps) cut versus a 50 bps cut. McCann suggests that a substantial 50 bps reduction could boost risk assets, including crypto. This scenario aligns with historical patterns where significant rate cuts have positively influenced market dynamics, supporting a broader rally across risk assets.

However, on the flip side, McCann warns that a smaller 25 bps cut might not favor the crypto market. The current market optimism, reflected in recent high asset prices, is largely based on the expectation of a 50 bps cut. If the Fed opts for a smaller reduction, McCann predicts that both equities and cryptocurrencies could take a nosedive. This scenario could lead to a market adjustment, potentially causing a sell-off across various asset classes.

Catalyst for Market Movements

Market sentiment is strongly influenced by the anticipation of the Fed’s decision. Saad Ahmed, head of Asia Pacific at crypto exchange Gemini, points out that while the anticipated rate cut may already be priced into the market, a 50 bps reduction could act as a catalyst for breaking out of existing price ranges. This could reignite a risk-on sentiment, favoring assets like cryptocurrencies that thrive on lower interest rates and increased liquidity.

Historical Context and Economic Stability

McCann challenges the perception that a 50 bps cut would be bearish, noting that past significant rate cuts during economic crises have had various effects on the markets. In contrast, the current economic environment, marked by stable 3% GDP growth, might support a larger cut’s positive impact. This backdrop adds a layer of complexity to the market outlook.

As the Fed’s decision looms, its implications for the crypto market remain a focal point of speculation and analysis. With the potential for either a major boost or a setback, investors and traders are closely monitoring the developments, ready to respond to the outcomes of this pivotal decision.

Which will the Fed choose—50 or 25 Bps? You’ll know! Stay tuned.

According to Foresight News, Sushi has announced a partnership with token issuance platform Goat Trading to introduce a new meme token issuance platform. The specific name of the platform has not been disclosed yet. This new platform will feature no MEV (Miner Extractable Value), zero slippage, and a 40% creator royalty. Additionally, a video released by Sushi indicates that the platform is set to launch on September 10 and will be based on the Base chain.