In the morning hours, Binance announced that it would remove 4 pairs of cryptocurrencies from its platform, namely; Bytecoin (BCN), Triggers (TRIG), ChacToin (CHAT) and Iconomi (ICN), which had a considerably negative impact on the value of all these cryptocurrencies, especially BCN, currently part of the top 100 of CoinMarketCap.
Through a press release on its official website, the company announced that, in order to maintain the highest quality in its platform, it would have decided to eliminate these cryptocurrencies due to the low quality and level of its development, the lack of commitment and transparency of the Project team, the lack of public communication, the stability of its blockchain and smart contracts and finally, the evidence of potentially fraudulent conduct. However, they did not specify what project would have incurred in each of these faults.
In this sense, the platform announced its unrestricted commitment to evaluate all the projects listed in Binance to protect its customers, in addition to the trading of these cryptocurrencies would cease as of October 12 at 10:00 (UTC).
On the other hand, all the projects involved in this note would have seen their value decrease considerably in a matter of hours. While TRIG would have dropped its value by 39%, ChatCoin would have dropped more than 22%. In addition, Iconomi, whose ICO raised more than 10 million dollars, would have depreciated by 8%. Finally, Bytecoin would have seen its price decrease up to 22%.
This happens within the framework of accusations made to Binance, which stipulates that the platform would charge huge commissions for listing projects. On the other hand, the company would have defended constantly and promised greater transparency in the process of listing and delisting for the future.
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