The largest cryptocurrency exchange, Binance, has announced the removal of four altcoins from its platform. In a press release, the company stated that from February 24, 2025, users will no longer be able to trade the tokens AirDAO (AMB), Clover Finance (CLV), StormX (STMX), and VITE (VITE). All spot trading pairs will be closed, and margin positions and other services related to these assets will be discontinued.
Which Trading Pairs Will Disappear
According to the announcement, Binance will remove the following pairs:
- AMB/USDT.
- CLV/BTC.
- CLV/USDT.
- STMX/TRY.
- STMX/USDT.
- VITE/USDT.
All open orders on these markets will be automatically canceled after trading ends.
The exchange also warned that after February 25, 2025, deposits in these tokens will no longer be credited to users' accounts, and withdrawals will be unavailable after April 24, 2025. Binance may perform an automatic conversion of remaining assets into stablecoins but does not guarantee this. The exchange will send separate notifications to users before any conversion takes place.
Impact on Margin and Futures Positions
Binance Margin will close all positions and cancel orders for AMB, CLV, STMX, and VITE on both cross and isolated margin on February 20, 2025. Users are advised to close their positions manually to avoid automatic settlements.
Binance Futures will close the AMBUSDT and STMXUSDT futures contracts and automatically settle them on February 21, 2025. Starting at 08:30 UTC on this day, users will not be able to open new positions.
Additionally, from February 20, 2025, Binance will stop supporting these tokens in Binance Auto-Invest, Simple Earn, VIP Loan, and Flexible Loan services. Users are advised to withdraw funds or close their positions in advance to avoid losses.
What Users Should Do
Binance advises users to transfer remaining assets to other cryptocurrencies or withdraw them from their accounts by April 24, 2025. Those using margin trading or automated strategies should close their positions by the specified dates.
Why Binance Is Delisting Tokens
The exchange regularly reviews all listings and removes assets that no longer meet its standards. Main reasons may include low liquidity, weak demand, or technical or regulatory issues.
In the past, Binance has delisted several assets that failed to meet market expectations or posed potential risks to users. The company notes that its priority is the safety and long-term development of the crypto ecosystem.
In December 2024, the company announced the delisting of WazirX (WRX), Bluzelle (BLZ), and Akropolis (AKRO) tokens. This decision resulted from a regular review of cryptocurrencies that might not meet regulatory requirements. Following the announcement, the tokens lost up to 60% of their value.
Rumors About Binance's Sale
Recently, rumors circulated online about a potential sale of Binance. These rumors arose after a tweet from user @CloakMK, who speculated that the exchange could no longer sustain growth due to regulatory issues and challenges for Eastern companies to enter Western markets.
Binance co-founder He Yi, however, denied these claims, clarifying that the company is in talks with various institutions about potential investments and partnerships but does not plan to sell.
"We are open to mergers and acquisitions," He Yi stated, emphasizing that Binance is actively exploring new opportunities to expand its market presence.
This post is for informational purposes only and does not constitute advertising or investment advice. Please conduct your own research before making any decisions.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.