Cryptocurrency exchange Binance announced earlier today that it will delist and halt trading of all spot trading pairs for four tokens. These tokens include Rupee Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI), and Unifi DAO Protocol (UNFI). Trading will officially cease on November 6 at 3:00 AM (UTC).
The exact trading pairs revealed will include KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT, and USDT/IDRT. The Binance Simple Earn program will also delist these tokens, while deposits and withdrawals will not be allowed after the specified date. Additionally, Binance Futures will completely close all positions for these tokens.
In its official blog post, the cryptocurrency exchange revealed that it follows strict industry requirements. Binance stated that it regularly reviews every coin listed on the platform to ensure that the digital asset consistently meets industry standards and requirements. Once Binance discovers that a particular coin fails to meet these requirements, a more in-depth review is conducted. Following this review, the exchange can decide to delist the coin or token.
Binance remains committed to user safety.
Binance stated that the exchange remains committed to providing high-quality services and security to a wide range of users. The platform also highlighted its commitment to the widely changing market landscape. This insight plays a crucial role when evaluating a coin and deciding whether to delist it. IDRT, KP3R, OOKI, and UNFI are lesser-known coins, and Binance may have found some irregularities in them.
There are a number of factors behind this cancellation other than those mentioned above. The ultimate goal seems to be the safety of users, while providing them with a safer trading environment. Binance is the largest exchange by trading volume, and it must ensure user safety and protection in order to consistently provide top-notch services.