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The exchange could eventually remove the FTT, ZEC and JASMY tokens.
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Binance delists cryptocurrencies for reasons of volatility and inherent risks of owning them.
Binance could soon delist FTX Token (FTT), ZCash (ZEC), and JasmyCoin (JASMY). The exchange placed these tokens in the monitoring section of the exchange, under a special label. The list of monitored tokens is updated the first week of each quarter, during the months of January, April, July and October.
According to Binancetokens could be removed from the exchange at any moment for no longer meeting the admission criteria:
The monitoring label is applied to tokens that feature noticeably higher volatility and risks compared to other listed tokens. These tokens are closely monitored and periodic reviews are performed. Please note that these tokens are at risk of no longer meeting our listing criteria and being removed from the platform. Do your own research.
Binance, Cryptocurrency exchange.
In addition to the mentioned tokens, others such as Aelf (ELF), Convex Finance (CVX), Sun (SUN), Status (SNT), Balancer (BAL), Clover Finance (CLV), Ark (ARK), MovieBloc, (MBL) or Wazir inter alia.
Why does Binance want to delist FTT, ZEC and JASMY?
The potential reason for delisting the FTX Token is obvious. The exchange that gave it its name and existence declared bankruptcy two years ago. Its founder, Sam Bankman Fried, was sentenced to 25 years in prison in March of this yearas reported by CriptoNoticias. Since 2022, FTX token and its price were in free fall within the markets, and could disappear entirely sooner rather than later.
According to CoinMarketCap, “FTX’s bankruptcy process is underway. The FTT token no longer has any use and can be liquidated by the state to pay creditors. “Proceed with caution.”
FTT Token was the token of the defunct FTX exchange. Fountain: CoinMarketCap
Bitcoin-digicash/”>ZCash (ZEC) is a privacy and anonymity cryptocurrency created by Blockchain/” target=”_blank” rel=”noreferrer noopener”>Zooko Wilcox which allows users to choose the level of privacy for their transactions. As it is a privacy cryptocurrency, its listing is on regulated bitcoin and cryptocurrency exchanges. makes it difficult for companies to comply with anti-money laundering statutes. As reported by CriptoNoticias, another privacy cryptocurrency, Monero (XMR), suffered this fate in February 2024.
The reason behind monitoring JasmyCoin (JASMY), meanwhile, is less obvious than other cryptocurrencies. JASMY has been under observation since at least March 2024, as demonstrated by these conversations on the Binance Square social network.
Within a year, this cryptocurrency has risen more than 300%, and as evidenced by the community of reddit and of Squarehas a community of followers who are betting on future price increases for JASMY. Presumably, then, this cryptocurrency is under observation due to its high volatility.
According to Binance, $1.17 billion is the combined market capitalization of all tokens that are being monitored and could be delisted from the exchange.
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