Binance Denounces News on Tether Delisting

Oct 15, 2018 at 21:11

Binance, the world’s largest cryptocurrency exchange has denied that it delisted Tether coins amid rumors that is spreading in the cryptoverse.

The confirmation was made when renowned cryptocurrency expert, Michael Gu known for his Twitter handle @boxmining called out Binance chief executive officer, Changpeng Zhao about the news.

The news may have affected Tether’s performance as it is currently down by 3.03 percent with a value of $0.9590 and a market cap of $2.4 billion.

The incident was largely attributed to FUD spreaders since Binance has recently delisted four inactive coins in its exchange.

Last Friday, the company delisted Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN) and Triggers (TRIG). However, withdrawals of these coins and tokens will still be accommodated by Binance until November 12.

“In order to protect our users, the Binance team conducts comprehensive and periodic reviews of each digital asset listed on our platform to ensure projects maintain a high standard of quality. In the event a coin or token falls below this quality standard, it will be subject to further review and potentially delisted,” the company expressed, defending its decision.