According to the statement made by the US branch of the cryptocurrency exchange Binance, Binance US will delist the OMG Network (OMG) token.
Binance.US, the American branch of the global cryptocurrency exchange Binance, announced that it will delist OMG Network (OMG) on September 12, 2023.
According to the blog post published by Binance.US, the decision to delist OMG was made following a periodic review of all digital assets listed on the platform. Various factors such as the token's risk profile, regulatory status, developer activities, network stability, community engagement and ethical behavior were taken into consideration during the review process.
Binance.US stated that OMG no longer meets their high standards and that its delisting was necessary to maintain a healthy and sustainable crypto ecosystem.
Following the development, there was a sudden decline in the price of OMG.
OMG holders on Binance.US will have until September 12, 2023 at 19:00 PDT / 10:00 EDT / 17:00 ET to deposit their tokens to the platform. After this period, deposits will be closed and OMGs sent to Binance.US will not be processed.
Withdrawals for OMG will remain open for users who wish to transfer their tokens to another platform or wallet.
*This is not investment advice.