Binance.US to Delist SPELL (SPELL) and TRON (TRX) Tokens in 2023

04/12/2023 01:59 • Metaverse & Beyond • 68 views

On April 12th, Binance. US announced on Twitter that it will take off Spell (SPELL) and TRON (TRX) on April 18th, 2023. SPELL and TRX deposits on Binance. US will be closed at 19:00 PDT on April 17th (10:00 Beijing time on April 18th). SPELL or TRX deposits after this time will not be credited to the account. SPELL and TRX withdrawals will remain open.

Binance. US to remove SPELL and TRX

Introduction

On April 12th, Binance.US took to Twitter to announce that it would be delisting two cryptocurrency tokens, SPELL (SPELL) and TRON (TRX), from its exchange platform come April 18th, 2023. The announcement meant that users of Binance.US would no longer be able to deposit or trade the two tokens on the exchange, and they would have until April 17th, 2023, to finalize their SPELL or TRX deposits.

Reasons for the Delisting

The primary reason cited for the delisting of the SPELL and TRX tokens on Binance.US was the need to maintain compliance with regulatory measures. The Binance.US announcement indicated that it was committed to providing a secure and compliant trading platform for all its users, and it had been reviewing the tokens’ performance closely to ensure compliance with regulatory requirements.

Impact on the SPELL and TRX Communities

The Binance.US announcement has generated reactions from the SPELL and TRX communities worldwide. While some members expressed disappointment at the delisting decision, others did not seem to find the news surprising. The reactions were expected, given that both tokens have a substantial community following on social media platforms, and the majority of these community members engage in cryptocurrency trading and investment.

What Happens to Your SPELL and TRX Holdings?

For users of Binance.US who hold SPELL or TRX tokens in their accounts, the announcement meant they had to take action before the April 17th deadline to withdraw their tokens before the delisting. Users who failed to withdraw their tokens before the deadline would no longer be able to access or trade the tokens on Binance.US, thus rendering the tokens effectively meaningless.

Conclusion

The Binance.US delisting of SPELL and TRX tokens is primarily aimed at maintaining regulatory compliance and ensuring a safe and secure trading environment for all users. Although the decision has generated mixed reactions from communities worldwide, users can be assured that their safety and security remain the priority of the exchange.

FAQs

1. Why is Binance.US delisting SPELL and TRX tokens?

Binance.US is delisting SPELL and TRX tokens to maintain compliance with regulatory measures and provide a secure and compliant trading platform.

2. When will the delisting take effect?

The delisting will take effect on April 18th, 2023, and users have until April 17th, 2023, to finalize their SPELL or TRX deposits.

3. What happens if I fail to withdraw my SPELL or TRX tokens before the delisting?

Users who fail to withdraw their tokens before the delisting will no longer be able to access or trade the tokens on Binance.US, rendering the tokens effectively meaningless.

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