Helium in trouble due to Binance performance

Multiple trading pairs of Helium Network Token (HNT) are being removed on Binance, the largest crypto exchange in the world. Scott Sigel, Chief Operating Officer of the Helium Foundation, reports Forbes that he is not happy with the decision of the exchange platform. Sigel’s statements follow after Binance decided to stop margin and spot trading between HNT and Binance USD (BUSD).

Helium does not meet Binance standard?

Jessica Jung, a Binance representative, indicates that the stock exchange goes through all the listed currencies once in a while. The exchange platform does this to ensure that it continues to meet its own standard. “If an asset does not meet the requirements or there is an industry change, we remove the token in question to protect our users,” Jung told Forbes.

Sigel is outraged by Binance’s decision and believes there is no reason to remove HNT from the exchange platform. “Nothing has changed in the integrity of the HNT and it still meets Binance’s standards,” said a desperate Sigel.

“There are countless exchanges that continue to support the token. We hope Binance changes its mind and brings the HNT trading pairs back to life soon,” Sigel added. Helium was founded in 2013 as an Internet of Things blockchain.

Was Binance Confused?

There are rumors that Binance was confused with another token that uses Helium to support its 5G hotspot network. In addition, Helium’s sales have been criticized, which despite several large investment rounds only seems to bring in $6,500 a month, despite the company’s raising hundreds of millions.

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In August, Helium was also caught up in the dubious practice of naming partners on the website, who then completely deny themselves having anything to do with the project. This concerns e-bike company Lime and software company SalesForce. Helium quickly removed these names from the website.

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