Binance announced it will delist several cryptocurrencies including CVP, EPX, FOR, LOOM, and REEF, effective from August 26, 2024. The decision follows a review of these assets, which no longer meet Binance's standards due to factors like team commitment, development activity, and regulatory changes. Trading, deposits, and withdrawals of these tokens will be phased out with specific timelines provided for each service. Binance advises users to manage their investments and prepare for the changes, including the potential conversion of delisted tokens into stablecoins.

REEF

This is a general announcement. Products and services referred to here may not be available in your region.Fellow Binancians,At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics.When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset:Commitment of team to projectLevel and quality of development activityTrading volume and liquidityStability and safety of network from attacksNetwork / smart contract stabilityLevel of public communicationResponsiveness to our periodic due diligence requestsEvidence of unethical/fraudulent conduct or negligenceNew regulatory requirementsContribution to a healthy and sustainable crypto ecosystemBased on our most recent reviews, we have decided to delist and cease trading on all spot trading pairs for the following token(s) at2024-08-26 03:00 (UTC):Please note:The exact trading pairs being removed are: CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/TRY, LOOM/USDT, REEF/TRY, REEF/USDT, VGX/USDTAll trade orders will be automatically removed after trading ceases in each respective trading pair.The token's valuation will no longer be displayed in your wallet after delisting. To view your assets after trading ceases, please ensure you have not selected “Hide Small Balances” in all of your wallets.Deposits of these token(s) after2024-08-27 03:00 (UTC)will not be credited to your account.Withdrawals of these token(s) from Binance will not be supported after2024-11-26 03:00 (UTC).Delisted tokensMAYbe converted into stablecoins on behalf of users after2024-11-27 03:00 (UTC). Please note that the conversion of delisted tokens into stablecoins isNOTguaranteed. A separate notification will be made before the conversion where applicable, and the stablecoins will be credited to users’ Binance accounts after the conversion.Binance Simple Earn will delist the token(s) mentioned above after2024-08-22 03:00 (UTC). Users may choose to redeem their Flexible and Locked Products positions beforehand. Otherwise, these Flexible and Locked Products positions will be automatically redeemed at the above-mentioned time, and subsequently transferred to users’ Spot Wallets, together with any accrued rewards, from2024-08-22 03:00 (UTC).Binance Auto-Invest will delist the token(s) mentioned above after2024-08-20 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.At2024-08-20 03:00 (UTC), LOOM, REEF of Binance Loans (Flexible and Stable Rates) and EPX, LOOM, REEF of VIP Loan will close all outstanding loan positions for the aforementioned token(s) as loanable token(s) and collateral token(s). Users are strongly advised to repay their outstanding loans before2024-08-20 03:00 (UTC)to avoid any potential losses, where applicable.At2024-08-19 06:00 (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the LOOM/USDT, REEF/USDT symbol. The pair will no longer be available for opening new arbitrage strategies upon delisting.Binance Margin will delist CVP, EPX, FOR, LOOM, REEF from Cross and Isolated Margin at2024-08-20 06:00 (UTC). The CVP/USDT, EPX/USDT, FOR/USDT, LOOM/BTC, LOOM/USDT, REEF/USDT cross and isolated margin pair(s) will be removed from Margin.At2024-08-14 06:00 (UTC), Binance Margin will suspend isolated margin borrowings on the aforementioned isolated margin pair(s). At2024-08-20 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned isolated margin pair(s). These pair(s) will then be removed from isolated margin.At2024-08-14 06:00 (UTC), Binance Margin will suspend cross margin borrowings on CVP, EPX, FOR, LOOM, REEF. At2024-08-20 06:00 (UTC), Binance Margin will cancel all pending orders on users’ cross margin accounts if they contain CVP, EPX, FOR, LOOM, REEF liabilities and/or assets. Binance Margin will then conduct an automatic settlement of any existing CVP, EPX, FOR, LOOM, REEF liabilities and thereafter transfer any remaining CVP, EPX, FOR, LOOM, REEF assets to users’ Spot Wallets. The cross margin pair(s) mentioned above will then be removed from cross margin.Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at2024-08-20 06:00 (UTC). Binance will not be responsible for any potential losses.Portfolio Margin users are advised to transfer the aforementioned token(s) out of their Margin Wallets to their Spot Wallets and to top up their margin balance before2024-08-20 06:00 (UTC)where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the aforementioned token(s) from the Margin Wallet.All CVP, EPX, FOR, LOOM, REEF balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from2024-08-20 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to thisfor more information.Binance Convert will maintain a Sell-only function for the aforementioned token(s) and all associated pairs from2024-08-21 03:00 (UTC) to 2024-08-26 02:00 (UTC).Binance Convert will subsequently delist the aforementioned token(s) and all associated pairs at2024-08-26 02:00 (UTC)Binance Buy & Sell Crypto will delist the aforementioned token(s) and all associated pairs at2024-08-21 03:00 (UTC)Binance Gift Card will delistthe token(s) mentioned aboveat2024-08-26 03:00 (UTC)Users are encouraged to manage Gift Cards containing these token(s) in advance to avoid any inconveniences.Binance Pay will delist the aforementioned token(s) at2024-08-21 03:00 (UTC).Binance will terminate Trading Bots services for the aforementioned spot trading pairs at2024-08-26 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.Please note that USDⓈ-M LOOMUSDT and REEFUSDT Perpetual Contracts trading is not affected and users may continue trading.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.Thank you for your support!Binance Team2024-08-12Find us onBinance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.Disclaimer: In compliance with MiCA requirements, from 2024-06-30, unauthorized stablecoins are subject to certain restrictions for EEA users. For more information, please click.Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see ourand.

Binance to Delist Multiple Cryptocurrencies Including CVP, EPX, and REEF by August 2024