Binance, the world’s largest cryptocurrency exchange, has announced the delisting of three cryptocurrencies—BakerySwap (BAKE), Hifi Finance (HIFI), and Self Chain (SLF)—due to a failure to meet the platform’s listing criteria. The decision follows a routine review process that evaluates factors such as team commitment, development activity, network stability, liquidity, and trading volume. The delisting will take effect on September 17, with Binance Spot Copy Trading removing the affected trading pairs by September 10.
In its official statement, Binance confirmed that all trade orders for these tokens would be automatically nullified once trading ceases, and highlighted that deposits of BAKE, HIFI, and SLF would not be credited to user accounts after September 18. Furthermore, users will not be able to withdraw these tokens after November 17. Historically, such announcements have negatively impacted the prices and reputation of the affected assets, and this instance was no exception. Following the news, BAKE saw a staggering drop of 26%, hitting approximately $0.05, its lowest point since early 2021. HIFI fell by 22%, while SLF experienced a 23% decline.
In addition to the delisting news, Binance recently drew attention to a growing issue of phishing scams that utilize fake support calls to mislead users. The exchange issued a warning, highlighting that victims are led to modify their application programming interface (API) settings, inadvertently granting scammers access to their accounts. Binance CEO Richard Teng took to X to assure users that the company would never solicit sensitive information such as passwords over the phone.
Further complicating matters for users, Binance temporarily halted all futures trading services due to a technical issue. The disruption lasted less than an hour, and operations were fully restored shortly thereafter.
In a more positive development, Binance also expressed support for World Liberty Financial’s new cryptocurrency, WLFI, integrating the digital asset into several of its programs, including Binance Simple Earn and Binance Futures. The exchange launched trading for WLFI against the Brazilian Real (WLFI/BRL) and Euro (WLFI/EUR). However, despite the initial enthusiasm, WLFI’s price has since declined by 9%, now trading around $0.22.
As Binance continues to navigate these developments, the impacts on user trust and the exchanges’ broader market performance will be closely monitored.
