Upbit Announces STORJ, JASMY and TT Delisting After Warning Review

South Korean crypto exchange Upbit will delist Storj, JasmyCoin and ThunderCore in September after its warning review found that concerns surrounding disclosures, project operations and token circulation remained unresolved.

Upbit Sets September 14 Delisting for STORJ, JASMY and TT

Upbit announced it will end trading support for STORJ, JASMY and TT on September 14 at 3:00 p.m. Korea Standard Time. The decision covers six trading pairs: STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW and TT/BTC.

All outstanding buy and sell orders for the affected pairs will be canceled when trading support ends. Upbit will continue processing withdrawals for the three cryptocurrencies for 30 days after the delisting, with withdrawal support scheduled to end on October 14.

The exchange said services involving airdrops, wallet upgrades and hard forks will no longer receive support after the delisting announcement. Users holding the affected tokens can withdraw them to compatible external wallets or other supporting platforms during the withdrawal period.

Upbit Says Warning Concerns Remain Unresolved

Upbit placed STORJ under an investment warning on July 28 before adding JASMY and TT on July 31. The exchange reviewed whether the projects had addressed the issues that led to those designations before deciding to terminate trading support.

For STORJ and JASMY, Upbit cited deficiencies involving the disclosure of information that could materially affect investors. The review also examined the substance and sustainability of their businesses and whether the projects had made adequate progress.

ThunderCore faced separate concerns involving its total token issuance and circulation plans. Upbit also reviewed changes to the project’s business plan and whether the procedures surrounding those changes were transparent and reasonable.

STORJ, JASMY and TT Prices Fall After Delisting Notice

All three cryptocurrencies moved lower shortly after the announcement. ThunderCore’s TT fell 6.62%, while JASMY declined 5.25%. STORJ dropped 1.98% after recovering part of its initial decline.

STORJ faces additional uncertainty after Storj Labs filed for Chapter 11 bankruptcy protection in July. The company said the process would address legacy liabilities while allowing its decentralized cloud storage operations to continue. Upbit did not state that the bankruptcy filing alone caused its delisting decision.

JASMY remains the largest of the three cryptocurrencies by market capitalization at about $195 million. STORJ’s market value stands near $19 million, while TT has fallen more sharply over the past month.

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