Binance to Delist GFT, IRIS, KEY, OAX, and REN on December 10

Binance has announced that it will be delisting five tokens—Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX, and Ren (REN)—on December 10, 2024, due to not meeting the exchange’s listing standards. This decision follows Binance’s periodic review of digital assets, in which these tokens were found to no longer meet the necessary criteria for continued listing, such as project development, network stability, and regulatory compliance. As a result, trading pairs for these tokens, including GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, and REN/USDT, will be removed from Binance on the specified date at 03:00 UTC.

Following the announcement on November 26, the affected tokens saw significant price drops. GFT plunged by 30.6%, dropping to $0.01242, while KEY fell 29.7% to $0.00262. OAX experienced the biggest drop, plummeting 37.2%, followed by REN, which saw a 36.1% decline, bringing its price to $0.03716. IRIS also dropped 34.8% after the news.

Binance explained that the decision to delist these tokens was based on multiple factors, including the project’s development, network stability, and adherence to regulatory standards. The exchange reiterated that these measures are in place to ensure a secure and healthy trading environment for users.

Traders holding the affected tokens are advised to act before the delisting date. After December 12, 2024, deposits for these tokens will no longer be credited to users’ accounts. However, users will still be able to withdraw these tokens until February 12, 2025, after which withdrawal support will cease. Binance Futures users will also see all positions in KEYUSDT and RENUSDT USDⓈ-M Perpetual Contracts automatically closed and settled by December 3, 2024, with no new positions allowed after that date.

Binance has mentioned the possibility that the delisted tokens may be converted into stablecoins for users after February 13, 2025, though this is not guaranteed. This move is part of Binance’s ongoing efforts to maintain the quality and integrity of its platform, while ensuring that only projects that meet its standards remain listed.