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News

CZ: Delist MITH Is The Right Decision

December 16, 2022 - Around 2 mins mins to read
Binance CEO Changpeng Zhao (CZ) addressed why the exchange elected not to return Mithril’s investment after the token was delisted yesterday.
CZ: Delist MITH Is The Right Decision

CZ tweeted in response to questions about the delisting of MITH, saying:

According to the terms of the contract accompanying CZ, Binance will have the right to deduct all or any portion of the Insurance Deposit as an additional fee if the price of the project’s token falls below 50% of $0.13 (Price Trigger) for 15 consecutive days, or if any event occurs against the token or the project’s users.

CZ: Delist MITH Is The Right Decision

Previously, Binance announced that it had taken down MITH and another three tokens because they no longer met the project’s vetting criteria.

Mithril subsequently asked Binance to return the 200,000 BNB deposit.

The blockchain project said that it deposited 200,000 BNB (about $1 million at the time) to Binance as part of the exchange’s listing procedure in 2018. The value of these deposited tokens today is worth over $50 million, which the team wanted back.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

CZ: Delist MITH Is The Right Decision

Binance CEO Changpeng Zhao (CZ) addressed why the exchange elected not to return Mithril’s investment after the token was delisted yesterday.
CZ: Delist MITH Is The Right Decision

CZ tweeted in response to questions about the delisting of MITH, saying:

According to the terms of the contract accompanying CZ, Binance will have the right to deduct all or any portion of the Insurance Deposit as an additional fee if the price of the project’s token falls below 50% of $0.13 (Price Trigger) for 15 consecutive days, or if any event occurs against the token or the project’s users.

CZ: Delist MITH Is The Right Decision

Previously, Binance announced that it had taken down MITH and another three tokens because they no longer met the project’s vetting criteria.

Mithril subsequently asked Binance to return the 200,000 BNB deposit.

The blockchain project said that it deposited 200,000 BNB (about $1 million at the time) to Binance as part of the exchange’s listing procedure in 2018. The value of these deposited tokens today is worth over $50 million, which the team wanted back.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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