Delisting Drama: Binance Pulls the Plug On GFT, IRIS, KEY, OAX, REN

• Binance delists GFT, IRIS, KEY, OAX, and REN, citing performance and legal benchmarks.
• Gifto issues 1.2B tokens ahead of delisting, sparking market volatility and a 35% price drop.
• Withdrawals for delisted tokens remain open until February 2025 for users to manage holdings.

Binance announced the delisting of five digital assets: Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN).

The removal, scheduled for December 10, 2024, at 03:00 UTC, affects these trading pairs: GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, and REN/USDT. The exchange stated the decision came after a standard review of its products against performance and legal benchmarks.

Binance Explains Delisting Decision

Binance explained that the delisting reflects its commitment to maintaining the quality of its trading platform. The exchange delists tokens that no longer meet its standards or changing market conditions.

Binance warned that after the delisting, it will cancel all pending orders for these tokens and stop deposits. Withdrawals for the affected tokens will stay open until February 2025, allowing users time to manage their holdings.

Gifto Issue…

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