- 16 other tokens were also moved
- This is done instead of directly delisting them
Cryptocurrency exchange Binance announced that it moved the tokens of the bankrupt firms Voyager and FTX to the innovation zone. The CEO of Binance CZ explained that the tokens were moved instead of being directly delisted from the exchange.
According to the statement, 18 tokens were moved, in addition to VGX and FTT, JasmyCoin (JASMY), OMG Network (OMG), WazirX (WRX), Serum (SRM), OAX (OAX) and several others moved.
CZ said that such an offer was proposed by one of the employees of the company. According to him, it is better for Binance to first transfer failed “projects with no progress” to its innovation zone before delisting them. Zhao added:
“If the situation with coins does not improve, then we will be forced to delist them”
The Innovation Zone will allow users to trade new tokens while protecting other users from the risk of trading them. The Binance statement says that the exchange will periodically review and identify projects that meet certain criteria. Also, some projects can be transferred to the main platform after monitoring their development.