Binance to Delist Several Altcoins on December 10, 2024

Binance has announced that it will delist several altcoins, including Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX, and Ren (REN), effective December 10, 2024. The decision follows Binance’s routine assessment of project performance and sector requirements, and the affected altcoins will no longer be available for trading after the specified date. Users will be given a limited window to withdraw their assets.

Key Dates and Important Information for Affected Altcoins

Binance has provided important dates and instructions for users holding the affected altcoins. Trading for these tokens will cease at 06:00 UTC on December 10, 2024. Deposits for these altcoins will no longer be

accepted starting December 11, 2024. Users will have until February 12, 2025, to withdraw their assets.

For those utilizing Binance’s Simple Earn products, investments in the affected tokens will be automatically transferred to spot wallets starting December 6, 2024. Additionally, Binance Futures will close all futures contracts for KEY and REN on December 3, 2024. The exchange strongly recommends that users close any open positions before this date to avoid potential complications.

Conversion and Withdrawal Options

Binance has stated that users will have the option to convert or withdraw their holdings in the delisted tokens, but cautioned that these conversions are not guaranteed. Binance Convert will allow users to sell the affected altcoins, but this service will only be available until December 10, 2024. The exchange advises users to take action promptly and either convert or withdraw their assets to prevent any issues as the delisting date approaches.

Conclusion

With the delisting of these altcoins, Binance is urging all users to review their holdings and ensure they manage their assets accordingly before the deadlines. The exchange emphasizes the importance of closing positions on time and utilizing the available conversion or withdrawal options to avoid potential losses.