Binance to Delist CVP, EPX, FOR, LOOM, REEF, VGX on August 26, 2024

Binance,
one
of
the
largest
cryptocurrency
exchanges
globally,
has
announced
the
delisting
of
several
digital
assets,
including
CVP,
EPX,
FOR,
LOOM,
REEF,
and
VGX.
The
delisting
will
take
effect
on
August
26,
2024,
at
03:00
UTC,
according
to

Binance.

Reasons
for
Delisting

Binance
periodically
reviews
the
digital
assets
listed
on
its
platform
to
ensure
they
meet
industry
standards
and
other
criteria.
Factors
considered
during
these
reviews
include
the
commitment
of
the
development
team,
trading
volume
and
liquidity,
network
stability,
and
adherence
to
regulatory
requirements.
If
an
asset
no
longer
meets
these
standards,
Binance
may
decide
to
delist
it.

Impact
on
Users

The
delisting
will
affect
several
trading
pairs,
including
CVP/USDT,
EPX/USDT,
FOR/BTC,
FOR/USDT,
LOOM/BTC,
LOOM/TRY,
LOOM/USDT,
REEF/TRY,
REEF/USDT,
and
VGX/USDT.
All
trade
orders
will
be
automatically
removed
after
trading
ceases
in
each
respective
pair.
Additionally,
users
will
no
longer
see
the
token’s
valuation
in
their
wallets
post-delisting
unless
they
disable
the
“Hide
Small
Balances”
feature
in
all
wallets.

Deposits
of
these
tokens
after
August
27,
2024,
at
03:00
UTC
will
not
be
credited
to
user
accounts.
Withdrawals
will
not
be
supported
after
November
26,
2024,
at
03:00
UTC.
Binance
has
also
indicated
that
delisted
tokens
may
be
converted
into
stablecoins
after
November
27,
2024,
although
this
is
not
guaranteed.

Affected
Services

Several
Binance
services
will
be
impacted
by
the
delisting:

• 
  Binance
  Simple
  Earn:
  The
  affected
  tokens
  will
  be
  delisted
  on
  August
  22,
  2024.
  Users
  may
  redeem
  their
  Flexible
  and
  Locked
  Products
  positions
  before
  this
  date.
• 
  Binance
  Auto-Invest:
  The
  tokens
  will
  be
  delisted
  on
  August
  20,
  2024.
  Users
  are
  advised
  to
  remove
  their
  plans
  before
  this
  date.
• 
  Binance
  Loans:
  All
  outstanding
  loan
  positions
  for
  LOOM
  and
  REEF
  will
  be
  closed
  on
  August
  20,
  2024.
  Users
  are
  advised
  to
  repay
  their
  loans
  to
  avoid
  potential
  losses.
• 
  Binance
  Margin:
  Isolated
  and
  Cross
  Margin
  trading
  for
  these
  tokens
  will
  be
  suspended
  on
  August
  14,
  2024,
  and
  delisted
  on
  August
  20,
  2024.
  Users
  are
  advised
  to
  close
  their
  positions
  to
  avoid
  losses.
• 
  Binance
  Convert:
  A
  Sell-only
  function
  will
  be
  available
  from
  August
  21,
  2024,
  to
  August
  26,
  2024.
  The
  tokens
  will
  be
  delisted
  on
  August
  26,
  2024.
• 
  Binance
  Gift
  Card
  and
  Binance
  Pay:
  These
  services
  will
  delist
  the
  tokens
  on
  August
  26,
  2024,
  and
  August
  21,
  2024,
  respectively.
• 
  Trading
  Bots:
  The
  Trading
  Bots
  services
  for
  the
  affected
  pairs
  will
  terminate
  on
  August
  26,
  2024.

Continued
Services

It
is
important
to
note
that
USDⓈ-M
LOOMUSDT
and
REEFUSDT
Perpetual
Contracts
trading
will
not
be
affected
by
this
delisting.
Users
may
continue
trading
these
pairs
as
usual.

Binance
emphasizes
the
importance
of
these
periodic
reviews
to
maintain
a
healthy
and
sustainable
crypto
ecosystem.
The
exchange
aims
to
continue
adapting
to
evolving
market
dynamics
while
providing
the
best
services
and
protections
for
its
users.

Image
source:
Shutterstock