In a recent announcement from Binance, three tokens will be delisted from their platform. These three tokens are, Kaon (AKRO), Bluzelle (BLZ) and WazirX (WRX) and this delisting will be effective from December 25, 2024 at 03:00 UTC. This decision was made after Binance’s carried out their routine asset review to ensure listed tokens meet industry standards and are regulatory compliant.
Key Dates and Impacted Services
The delisting process begins on December 18, 2024, when Binance will suspend cross and isolated margin borrowings for these tokens. By December 23, cross margin accounts will automatically settle outstanding liabilities, with any remaining token converted to USDT within 24 hours.
According to the announcement, the impacted trading pairs which include AKRO/USDT, BLZ/BTC, BLZ/USDT, WRX/USDT will no longer be available for trading after the delisting date. Also, the exchange platform has advised users to unhide small balances in their wallets so that these assets can be tracked. Withdrawal of these tokens will be unsupported after February 25, 2025.
Additional services, including Future, Margin and Auto-Invest, will cease their offering for these tokens from December 18, 2024, onwards. Binance Convert will maintain a sell-only feature until December 25, 2024, while other services like Gift Card and Trading Bots will discontinue by the same date.
User Guidance by Binance
The exchange platform has also emphasized the importance of user managing their portfolios promptly, closing positions, and transferring assets to avoid potential losses during the transition. The assets can be transferred from Margin to Spot Wallets before the deadlines so that the liquidation risks can be avoided by the user. Deposits of these tokens will not be credited after December 26, and withdrawals will cease by February 25, 2025.
The exchange has reassured the fact that they want to develop a transparent and sustainable crypto ecosystem along with these development.
Also Read: He Yi: Binance Alpha Doesn’t Ensure Listing on Binance
