Crypto Exchange Binance (BNB) Issues Risk Warnings for These Cryptos: Reasons

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As a seasoned crypto investor with a decade of experience under my belt, I find Binance’s (BNB) latest move to be a refreshing step towards transparency and user protection. Over the years, I’ve seen countless projects promise the moon only to deliver a crater – so any measure that helps users make informed decisions is welcome in my book.

On the global front, Binance (BNB), the top-tier cryptocurrency exchange based on trading volume, has begun issuing cautionary notices for certain altcoins they’ve listed. These warnings are particularly relevant to digital currencies that have undergone changes in their economic structure within the past 18 months.

Binance (BNB) issues risk warnings for 10 altcoins, tokenomic adjustments to blame

As an analyst, I’m sharing that Binance (BNB), the cryptocurrency exchange I work with, is going to display warning messages to its users about significant changes in the tokenomics of certain assets. Before they can trade these tokens, users will be required to accept a pop-up notification, as per the official statement.

At Binance, we value the insights from our community and prioritize our users’ best interests! Beginning today, we’ve implemented risk warnings for tokens undergoing substantial tokenomic changes. This move aims to increase transparency and empower you with more informed decision-making capabilities. Learn about…

— Binance (@binance) October 1, 2024

Specifically, any tokens that have undergone economic modifications or supply alterations within the past 18 months will now fall under a revised set of guidelines.

In the initial notice about potential risks, mentions were made of various digital assets such as AVA from Travala, CHZ by Chilliz, ENJ from Enjin Coin, LSK from Lisk, and others.

Among the listed cryptocurrencies, IOTA stands out as the one that has made significant strides. Previously reported by U.Today, this digital currency has undergone several updates within the past year.

Currently, our project focuses on the latest version of IOTA 2.0. IOTA, one of the pioneering altcoins out there, ranks as the 132nd largest cryptocurrency in terms of market capitalization.

More crypto tokens to be affected, Binance (BNB) says

Some additional instances are AVA, a pioneer in crypto that aims to provide Web3 functionalities for the travel industry, and CHZ, a token from a protocol that launched fan tokens during the years 2021-2022.

In addition to this, the “cautionary list” features some lower-value cryptocurrencies like Self Chain (SLF), Solar (SXP), Vanar Chain (VANRY) and Metal DAO (MTL). Moreover, it’s important to note that the warning applies to ORN as well, since, as U.Today previously reported, ORN is on borrowed time.

In simpler terms, Binance (BNB) stated that for the sake of transparency and client safety, additional cryptocurrencies may soon display a warning message or pop-up notification regarding potential risks.

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2024-10-01 17:32