Major crypto exchange Binance is set to perform a delisting action in May as it prepares to remove five crypto assets.
The crypto exchange has decided to delist and cease trading on all spot trading pairs for five crypto tokens on May 27 at 03:00 (UTC). The decision, it says, is based on its most recent reviews. The tokens affected include Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), and Syscoin (SYS).
Binance reviews each digital asset it lists to make sure it continues to meet a high level of standards and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, the crypto exchange conducts a more in-depth review and potentially delists it.
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Binance will terminate Trading Bot services for the related spot trading pairs on May 27 at 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots before the cessation of Trading Bot services to avoid any potential losses.
Dates to note
Deposits of Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), and Syscoin (SYS) will not be credited to users’ accounts after May 28 at 03:00 (UTC), while withdrawals of the said tokens from Binance will not be supported after May 27 at 03:00 (UTC).
Binance Spot Copy Trading will delist the aforementioned spot trading pairs on May 20 at 03:00 (UTC). Delisted tokens may be converted into stablecoins on behalf of users after May 28 at 03:00 (UTC).
Binance Futures will close all positions and conduct an automatic settlement on the contracts of the aforementioned tokens on May 19 at 09:00 (UTC). The contracts will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the contracts of the tokens starting from May 19 at 08:30 (UTC).
Binance Margin will delist the said tokens from Cross and Isolated Margin on May 19 at 10:00 (UTC).
Source: https://u.today/binance-delisting-alert-five-crypto-tokens-are-set-for-removal-this-may
