Upbit & Bittrex May Delist SALT and WINGS Tokens, Following Binance Footsteps

Tabassum Altcoin News February 23, 2019

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Upbit & Bittrex May Delist SALT and WINGS Tokens, Following Binance Footsteps

Following the recent delisting announcement of five crypto tokens by Binance exchange, the other leading cryptocurrency exchanges are likely following the suit.

Binance Delisted Five Tokens – including SALT and WINGS

Coingape had recently reported that Binance cryptocurrency exchange set to delist and suspend the trading of five tokens including CLOAK, MOD, SALT, SUB and WINGS due to the failure of performing as per platform’s criteria. However, the announcement appeared on Binance website on Feb 15 and the delisting occurred on Feb 22, 2019, finally. In particular, the potential delisting by Binance is said to be- ‘team’s commitment towards the project, fraudulent conduct and unlike’.

Such token delisting decision of Binance might have struck a ‘fear point’ among the other exchanges – as such, a South Korean cryptocurrency exchange, Upbit have moved few tokens in a special category of assets that are likely be delisting from the exchange. Few of such affected exchange on Upbit are also including those that are recently delisted from Binance – Blocktix (TIX), SaluS (SLS), Salth (SALT) and the Wings (WINGS). To note, SALT and WINGS are the common tokens in Binance and Upbit that seems not performing as per the standards.

Upbit & Bittrex Likely Delist SALT and WINGS Token

Furthermore, the report also revealed that Upbit exchange would seek clarifications from other listed tokens and if found unsatisfactory – it would likely delist those as well. The potential reason for delisting as mentioned in Upbit’s official website is ‘an investigation by local financial authorities due to unfair distribution of tokens by SALT and WINGS platform’. Moreover, it is important to note that SALT is already delisted from several other exchanges while WINGS is waving in trouble.

SALT (SALT)
• Market: SALT / BTC, SALT / ETH
• Reason for Designation
: SEC Prevents Eric Voorhees from participating in unauthorized Crypto-asset projects, and an investigation by local financial authorities has recently been conducted on the unfair distribution of tokens. Consideration of this situation, we have decided designation of investment warning Crypto-asset.

Wings-DAO (WINGS)
• Market: WINGS / BTC
• Reason for Designation
: Wings DAO is a project that has been launched on the Big-Data based Crypto-asset pricing forecast market, but it has not been built yet. In addition, efforts to promote business is low. We have decided to designate this as an investment warning Crypto-asset.

However, Binance’s decision isn’t firmly accepted by team SALT as such they took to Twitter the second day of the announcement and goes on stating that the effort to help shape the new economy without considering the number of exchanges, SALT is listed. It says;

In a similar context, WINGS also announced on Twitter as ‘continue implementing the Wings vision’

What’s your stake on both the tokens? and decision by Binance and Upbit? Share your opinion with us.

Summary
Upbit & Bittrex May Delist SALT and WINGS Tokens, Following Binance Footsteps
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Upbit & Bittrex May Delist SALT and WINGS Tokens, Following Binance Footsteps
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Following the delisting announcement of five cryptocurrencies by Binance exchange, the other leading cryptocurrency exchanges are likely following the suit.
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Coingape
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: Tabassum

Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

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