- Binance announced that it will add watch tags to eleven crypto tokens on July 1.
- BAL, CTXC, CVP, CVX, DOCK, HARD, IRIS, MBL, POLS, SNT, and SUN likely have higher volatility and risks than other tokens.
- Binance’s native token BNB held steady at around $585 on Monday, most of the SEC lawsuits against the exchange remain.
Binance, one of the largest crypto exchanges by trade volume, is planning to close monitoring with the risk of delisting from exchange several tokens that it deems more volatile and riskier than other cryptocurrencies. The exchange listed the tokens in an official announcement and attached a watch tag to these assets on July 1.
Binance is faced with a lawsuit by the US Securities and Exchange Commission (SEC). A bulk of the charges made against the exchange were allowed to proceed in a recent development on Friday, June 28.
BNB, the exchange’s native token, is holding steady at around $585 on Monday at the time of writing.
Binance watches “risky assets”, likely to delist these tokens
In an official announcement, Binance noted that based on its recent reviews, it will extend the monitoring tag to include more tokens on July 1:
- Balancer (BAL)
- Cortex (CTXC)
- PowerPool (CVP)
- Convex Finance (CVX)
- Dock (DOCK)
- Kava Lend (HARD)
- IRISnet (IRIS)
- MovieBloc (MBL)
- Polkastarter (POLS)
- Status (SNT)
- Sun (SUN)
The tag is attached to show that trading in these assets may be riskier and more volatile than other cryptocurrencies. The exchange could delist the tokens in the list above post-monitoring and regular reviews.
Binance informs users that tokens with a monitoring tag no longer meet the listing requirements and are, therefore, at risk of being delisted at any time.
Binance announcement on July 1
The exchange reviews the token team’s commitment, level and quality of development activity, trade volume and liquidity, stability and safety from attacks, smart contract/ network stability, among other factors, when determining whether the project is worth trading on the exchange platform.
While the exchange takes steps to ensure the safety of users trading on its platform, the crypto exchange is faced with an SEC lawsuit.
SEC vs. Binance lawsuit proceeds with bulk of charges
A Reuters report shows that a Judge at the US District Court for the District of Columbia, Amy Berman Jackson, allowed a bulk of the US financial regulator’s charges against the exchange. This adds to the woes of the exchange, which agreed in November to a $4.3 billion settlement with the US Department of Justice and the Commodity Futures Trading Commission (CFTC) on several charges.
Changpeng Zhao (CZ), Binance co-founder and former CEO of the exchange, is serving time in prison while the SEC proceeds with charges of unregistered securities trading against the platform.
BNB gains nearly 1% on Monday, with the exchange’s native token trading at $585 at the time of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Why Polygon’s MATIC may have seen a bottom amid underperformance
Polygon MATIC, now known as POL, has been one of the most underperforming cryptocurrencies in the top 100 since the beginning of the year, declining more than 62% year-to-date. However, several key metrics on Wednesday show that its price may have seen a bottom.
SUI rallies as Circle announces the launch of USDC on its network
Layer-1 blockchain Sui has been gaining constant attention following big launches on its network, including the latest launch from USDC issuer Circle. Circle announced its plans to launch its USDC stablecoin on the Sui blockchain on Tuesday. The announcement also included the integration of Circle's CCTP for cross-chain building among developers.
Ethereum could rally 17% amid Bitwise thesis on ETH contrarian bet
Ethereum (ETH) is up 2% on Tuesday as anticipation grows for a 50-basis-point interest rate cut by the US Federal Reserve (Fed). Meanwhile, Bitwise's weekly memo noted that Ethereum still provides several opportunities and looks like a contrarian bet.
Bitcoin rallies with crypto market on steeper Fed rate cut speculation and Q4 positivity
Bitcoin (BTC) and the crypto market saw a brief rally on Tuesday following speculations that the Federal Open Market Committee (FOMC) may opt for a 50-basis-point rate cut during its meeting on Wednesday.
Bitcoin: On the road to $60,000
Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.