BNB insurance Binance listing? CZ addresses delisted project's claims
While the delisting didn't concern many due to its inactivity, others questioned the focus on price for delisting as it may prompt projects to artificially pump the price. A decentralized social network project called Mithril (MITH) was recently delisted from Binance and in return, the crypto project asked for the 200,000 Binance Coin (BNB) it had to deposit as insurance for listing on the exchange. Binance CEO Changpeng Zhao aka CZ responded to MITH’s demand on Twitter with a screenshot of their contract that suggests if the listed token price falls below a certain threshold, the exchange has the right to deduct the insurance fund partially or fully as an additional fee. CZ said that the said project’s token price fell below the trigger threshold on multiple occasions and after looking at the project, it hasn’t updated the community for almost 2 years. CZ claimed that the “team has made the right decision and acted fully within our right to do so.” Your token price is way belo...