The crypto exchange is delisting trading pairs for GFT, IRIS, KEY, OAX and REN by December.
Crypto exchange Binance is set to delist five crypto tokens by December, citing a lack of compliance with industry standards.
According to a Nov. 26 announcement, Binance will delist by Dec. 10 trading pairs for Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX) and Ren (REN). Arbitrage strategies, loans, and futures positions on these tokens will be closed on Dec. 3, while isolated and cross-margin borrowings will be suspended on Nov. 27.
The announcement triggered a significant sell-off, leading the tokens to plummet by nearly 40%, with prices dropping to mere cents at the time of writing.
