Binance Removes 14 Tokens From Its Platform Effective April 16

Binance strikes a significant blow by announcing the removal of 14 tokens from its platform effective April 16.

Binance, the leading cryptocurrency exchange, is set to remove 14 tokens from its platform on April 16. The decision, which was put to a vote by the Binance community, follows a new approach by the exchange giant to select crypto projects based on strengthened quality criteria.

The move marks a significant turning point in the exchange's strategy, placing more emphasis on the performance and value of projects. Among the 14 tokens to be delisted are Badger (BADGER), Balancer (BAL), Beta Finance (BETA), Cream Finance (CREAM), Cortex (CTXF), Aaelf (ELF), Firo (FIRO), Kava Lend (HARD), NULS (NULS), Prosper (PROS), Status (SNT), TROY (TROY), UniLend (UFT), and VIDT DAO (VIDT).

The criteria considered for the delisting decision include:

This measure is likely to trigger a sharp decline in the value of these crypto assets, a phenomenon well known to investors during delisting announcements on Binance.

The move also signals the end of the era of ghost tokens, as projects must now prove their value, reliability, and ability to adapt to an ever-changing global regulatory framework in order to remain listed.

Moreover, Binance is giving more weight to its community and strengthening its evaluation process in a bid to reconcile decentralized innovation with responsible governance.

The Binance community is very important to the exchange and has recently helped to spot a crypto fraudster within the company.

A few weeks ago, 4 crypto tokens were listed on Binance through a "Vote To List" and today, 14 assets will be delisted through a "Vote To Degrade." This strategy could well become the norm for large crypto platforms.