OKX will delete project tokens without an active development team

According to the exchange’s CEO, this decision was made in accordance with the official listing agreement on the platform

24.04.2023 - 15:30

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What’s new? The founder of the OKX cryptocurrency exchange Star Xu has warned users that all projects that stopped developing will be excluded from the listing in accordance with the rules of the platform. He made this statement on Twitter on April 24, accompanying the publication with a request “Don’t be evil.”

Don’t be evil. All projects stop develop will be delisted according to OKX listing agreement. https://t.co/zhdO8PCLpI — Star (@star_okx) April 24, 2023

OKX centralized exchange (CEX) was founded in 2013. It is headquartered in Seychelles. As of April 24, 339 coins and 603 trading pairs are available on the platform, with a daily trading volume of $985,5 million. The exchange’s native token OKT is trading at $19,32, down by 1,3% overnight, according to CoinGecko.

What happened before? On April 18, the US arm of crypto exchange Binance delisted SPELL and TRX tokens. Binance.US’s quality standards for delisted coins, like the global platform, include activity and progress in crypto project development.

On March 24, OKX suspended operations in Canada due to “new regulations.” Local customers must close options, margin, perpetual, and futures positions and withdraw fiat and digital assets from their accounts by June 22.

On February 1, OKX delisted the Gemini USD (GUSD) stablecoin. In a statement, the exchange noted that the risk control department monitors projects launched on the platform, assessing progress, risks, as well as feedback and complaints from users.

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