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In a recent announcement, Binance revealed its decision to cease support for deposits and withdrawals of tokens on selected networks.
In this regard, Binance identified the affected token as Sophon (SOPH) on the BNB Smart Chain network. Binance will be ceasing support for deposits and withdrawals of Sophon (SOPH) through the BNB Smart Chain network from August 21 at 08:00 (UTC).
After August 21 at 08:00 (UTC), any deposits of Sophon sent through the BNB Smart Chain network will not be credited and may lead to asset loss.
This week, Binance performed some delistings. The crypto exchange will remove and cease trading on the following spot trading pairs: APT/BTC, AR/BTC, A/USDC, BTTC/TRY, CYBER/USDC, LPT/BTC and WAL/FDUSD today, August 14 at 03:00 (UTC).
Binance conducts periodic reviews of all listed spot trading pairs to protect users and maintain a high-quality trading market and may delist selected spot trading pairs due to factors including poor liquidity and trading volume.
Binance Margin and Loan will also delist and cease trading on all margin trading pairs for BTTC (BitTorrent) and POWR (Powerledger) on August 14. Binance Margin will delist the aforementioned tokens from Cross and Isolated Margin.
In addition, Binance Flexible Loan will close all outstanding loan positions for these tokens as loanable and collateral tokens on the same date. VIP Loan will close all outstanding loan positions for the aforementioned token(s) as collateral tokens. Users are strongly advised to repay their outstanding loans before the automatic closure to avoid any potential losses, where applicable.
Binance Bitcoin reserve jumps
According to CryptoQuant, Binance's Bitcoin reserves have increased to 667,500 BTC, which is the highest level since February. This remains noteworthy given the market's continued sensitivity to supply movements on centralized exchanges.
This increase follows a period of decline in Binance's Bitcoin reserves, which have now started to recover in recent months.
InkByte Editorial Team
Dan Burgin
