Binance will delist privacy coin Monero (XMR) along with a handful of other assets on February 20, the company said in a blog post Tuesday morning.
The XMR price dropped 17% on the news and is currently trading for $138.00, according to CoinGecko data. With a market capitalization of $2.6 billion, it's easily the largest asset among the others being delisted.
The other coins include Aragon (ANT), Multichain (MULTI), and Vai (VAI).
Aragon is a code-free DAO creation and management platform that allows users to distribute tokens, authorize wallets for voting, and set up governance rules. Vai is the native token of the Venus Protocol, a decentralized stablecoin issuer.
$126M in Multichain Funds ‘Abnormally’ Moved to Unknown Address, Says Troubled Bridging Project
Cross-chain bridge Multichain has reportedly lost crypto assets worth $126 million after being locked since May. The bridge has $1.25 billion in total liquidity for facilitating cross-chain transfers, per DeFiLlama. The team confirmed the exploit this morning in a tweet that assets locked were being “moved to an unknown address abnormally.” The lockup assets on the Multichain MPC address have been moved to an unknown address abnormally. The team is not sure what happened and is currently invest...
Multichain, which helps users bridge assets and NFTs across multiple blockchains, made headlines last year when $126 million worth of funds suddenly disappeared. Not long after, blockchain analysis firms suggested it could have been an inside job. A week later, police in China confirmed that they had the team's CEO in custody and the remaining team said they were without access to the protocol because of the missing exec.
All that to say that there doesn't seem to be any one theme linking all the soon to be delisted tokens together. In its announcement, Binance listed several reasons why it had flagged the tokens for delisting, including trading volume and liquidity, stability and safety, public communication, and evidence of unethical or fraudulent conduct.
"When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it," Binance wrote in its blog post. "We believe this best protects all our users."
Privacy Coins Monero, Zcash, Horizen 'At Risk' of Delisting by Binance
Crypto exchange Binance has added a "monitoring tag" to a list of cryptocurrencies including privacy coins Monero (XMR), Zcash (ZEC), Horizen (ZEN) and Firo (FIRO). In an announcement, Binance said that tokens with the monitoring tag "exhibit notably higher volatility and risks compared to other listed tokens," and are "at risk of no longer meeting our listing criteria" and being delisted from the exchange. It added that tokens with the monitoring tag are subject to regular reviews. Criteria con...
Early in January, Binance said it was reviewing several assets, including Monero, Zcash, and Horizen.
The crypto exchange, the largest in the world by daily trading volume, cautioned that any deposits after the Feb. 20 delisting will not be credited to user accounts. But withdrawals of the tokens will be supported through May 20, the company said.
