# Major Update: Binance to Delist Multiple Tokens – What It Means for Investors
**By Tony Kim**
**Publication Date: November 26, 2024**
In a significant move set to impact various crypto investors, **Binance**, one of the world’s leading cryptocurrency exchanges, has announced the impending delisting of several tokens, including **GFT**, **IRIS**, **KEY**, **OAX**, and **REN**. Effective from December 10, 2024, these changes stem from Binance’s thorough review of its asset portfolio aimed at upholding the integrity and compliance of its offerings.
## Why Did Binance Take This Step?
Binance isn’t just a trading hub; it prides itself on conducting **rigorous evaluations** of listed assets to ensure compliance with the highest industry standards. This includes assessing factors such as the commitment level of project teams, quality of ongoing development efforts, trading volume, and network security. Unfortunately, the recent evaluations revealed that the tokens slated for delisting no longer met Binance’s stringent criteria.
This regular reassessment process is crucial, not only for the protection of users but also for maintaining a healthy and sustainable crypto economy. As your trusted source at **Extreme Investor Network**, we want to emphasize the importance of staying informed about such changes, as they can significantly affect your investment strategy.
## Key Details About the Delisting Process
Beginning December 10, 2024, at 03:00 UTC, spot trading pairs for the affected tokens will be suspended. Here’s a quick overview of the impacted trading pairs:
– GFT/USDT
– IRIS/BTC, IRIS/USDT
– KEY/USDT
– OAX/BTC, OAX/USDT
– REN/BTC, REN/USDT
### Important Dates and Actions for Investors:
– **Post-December 11, 2024**: Deposits of these tokens will not be credited.
– **February 12, 2025**: Withdrawals of these tokens will no longer be supported.
– **February 13, 2025**: There may be an option to convert delisted tokens into stablecoins, but this is not guaranteed.
## What This Means for Binance Users
The repercussions of this delisting will extend beyond just trading. Services like **Simple Earn, Loans, Margin Trading,** and **Futures** will be affected. To safeguard against potential losses, users should consider taking proactive measures:
– **Simple Earn** will cease support for these tokens by December 6, 2024.
– **Futures** positions for KEYUSDT and RENUSDT contracts will automatically settle by December 3, 2024.
We encourage users to close any existing positions before these dates to avoid automatic settlements that may not align with their trading strategies.
### A Call to Action for Investors
At **Extreme Investor Network**, we recommend diligently monitoring your portfolio to prepare for these upcoming changes. Transfer assets from **Margin Wallets** to **Spot Wallets** and settle outstanding loans to mitigate risks associated with the delisting process.
This proactive approach will not only help you navigate this transition smoothly but also reinforce your status as an informed and active participant in the crypto market.
## Conclusion
Binance’s decision to delist these tokens emphasizes its ongoing commitment to creating a robust and secure trading environment while adapting to evolving regulatory frameworks. Staying ahead of such changes is critical, and it underscores the importance of following platforms like **Extreme Investor Network** for the latest insights and updates in the cryptocurrency landscape.
As always, we are here to guide you through the complexities of crypto investing, ensuring you have the knowledge needed to make informed decisions.
—
*iStock photo credit: Shutterstock*
This blog post offers an engaging narrative capturing both the urgency and importance of the Binance delisting announcement, highlighting proactive measures investors should consider. By embedding your brand’s perspective and expertise, it encourages readers to return for ongoing updates and insights.