Binance Delists BitShares, PERL.eco, Tornado Cash, and Waltonchain, Impacting Market Performance

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Binance, the world’s largest cryptocurrency exchange, has announced that it will be delisting four cryptocurrencies – BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC) – from its platform. The delisting will take effect on December 7, and the specific trading pairs being removed are BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, and WTC/USDT.The decision to delist these cryptocurrencies is based on several factors, including a decrease in development activity, low trading volume and liquidity, and evidence of unethical or fraudulent conduct. Following the announcement, the prices of these cryptocurrencies have experienced significant declines, with WTC dropping by 35%, TORN by 40%, and PERL by 45%.This delisting comes after Binance recently removed ten spot trading pairs due to poor liquidity and trading volume. Additionally, the exchange has announced that it will discontinue support for the BUSD stablecoin in 2024, advising customers to convert their holdings to other assets before February 2024.These delisting efforts by Binance coincide with significant organizational changes, including a $4.3 billion settlement with the US Department of Justice for money-laundering charges and the resignation of former CEO Changpeng Zhao, who has been replaced by Richard Teng.Overall, these delistings and organizational changes reflect Binance’s commitment to maintaining a high standard of quality and integrity within its platform.

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