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$Waves & some other coins crashes 30%, as Binance terminates support

$Waves & some other coins crashes 30%, as Binance terminates support 17

Binance announced to delist 4 major cryptocurrencies from the platform citing several issues.

Binance is a top-ranked crypto exchange that is mainly known for fast & secured crypto trading services globally. The services of this exchange are available in multiple countries, where crypto trading is legal & allowed. 

On 3 June 2024, the Binance crypto exchange announced delisting plans for OMG coin, Waves coin, WNXM coin, & XEM coin. 

This latest decision by the Binance team was taken on behalf of multiple factors of crypto listing & delisting criteria e.g. trading volume, quality or commitment to the project, network stability and others.

This decision will come into effect on 17 June and later withdrawals of the soon-to-be-delisted tokens will still be possible until 17 Sep. 

Price action 

Following this news the trade price of Waves coin crashed 27%+ within 6 hours. 

OMG coin also crashed by nearly 26.5% from $0.7 to $0.5 within the same period. 

The trade price of XEM coin crashed by nearly 30% in the last 6 hours, from $0.035 to $0.023. 

The current trade price of $WNXM coin is $81.4 which is only 1.8% down which means the trade price of this cryptocurrency remained unfazed following this bad news.

Binance & legal hurdles 

Currently, Binance is struggling badly in multiple jurisdictions because of unclear rules & laws. 

In particular, one of Binance’s employees is under the custody of the Nigerian authorities over alleged tax exemption & price manipulation of the Naira currency. 

Just a day ago, Binance’s former CEO Changpeng Zhao (CZ) has just begun a sentence in California over money laundering charges. CZ violated US AML measures by providing crypto services in the US jurisdiction within proper measures & regulatory approvals.

Read also: Bitcoin City dreamer Nayib Bukele begins his second term as an El Salvador president

$Waves & some other coins crashes 30%, as Binance terminates support



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