Binance.US, a prominent digital asset exchange, has announced that it will be delisting Helium (HNT) and JasmyCoin (JASMY) on March 21, 2023. Binance.US conducts periodic reviews of each digital asset it lists to ensure that it meets the high standards expected in the industry.
If a digital asset no longer meets these standards, or if there are changes in market or regulatory circumstances, Binance.US will conduct a more thorough review to determine whether delisting is necessary.
Several factors are taken into account during the review process, including changes in the token’s risk profile, regulatory standing, team commitment to the project, level and quality of development activity, trading volume and liquidity, stability and safety of the network from attacks, smart contract stability, community engagement levels, and evidence of unethical or fraudulent conduct or negligence. In addition, consideration is given to the asset’s contribution to a healthy and sustainable crypto ecosystem.
After conducting its review, Binance.US has decided to delist Helium (HNT) and JasmyCoin (JASMY) from its platform. Deposits for both HNT and JASMY will be closed on March 20, 2023, while trading pairs for HNT/USD, HNT/USDT, JASMY/USD, and JASMY/USDT will be removed on March 21, 2023. Withdrawals will remain open.
The Helium Foundation, which oversees the Helium network, has responded to Binance.US’s decision by stating that it will continue to educate them about the network’s core initiatives and development roadmap.
The Helium Foundation is disappointed with the decision but understands Binance.US’s position. The Foundation has been working closely with core development teams within the Helium community, the Solana community, and the Solana Foundation to ensure the migration to Solana is successful and completed on time. The migration will significantly scale network utility and direct more resources towards the goal of creating a ubiquitous, affordable communication layer for all people and devices.
For the safety of all participants in the Helium ecosystem, Binance.US customers are advised to consider taking custody of their HNT using the open source Helium Wallet app or migrate to one of the other 20+ venues that currently support HNT trading pairs.
Read more:
- Helium Network To Begin New Era With Migration To Solana Blockchain On March 27th
- Solana Is Losing Ground Under Its Feet As Developers Are Leaving Network