Helium Foundation executives responded to Binance delisting the project’s native token Helium (HNT) from the crypto exchange.
No specific reason was given for the delisting of HNT’s main trading pairs by Binance last week.
“Fellow Binancians, Binance will remove and cease trading on the following trading pairs at 2022-10-12 03:00 (UTC). Cross & Isolated Margin Pairs: HNT/BUSD, HNT/USDT Binance will remove and cease trading on the following trading pairs at 2022-10-14 03:00 (UTC). Spot Pairs: HNT/BTC, HNT/USDT, OOKI/BNB,” stated Binance.
The Coin No Longer Meet Binance’s Standard
Binance spokesperson Jessica Jung said in a statement to Forbes, “[Binance periodically reviews] each digital asset we list to ensure that it continues to meet a high level of standard.”
She added, “when a coin or token no longer meets this standard or there are changes in the industry, we conduct a more in-depth review and potentially delist it in order to protect our users.”
Helium Denied The Statement
Helium Foundation’s COO, Scott Sigel spoke to Forbes, “There is no basis for Binance to delist several HNT pairs. There has been no change to the integrity of HNT and it continues to meet all of the standards the exchange sets….”
Sigel said, “There are dozens of other exchanges that continue to support HNT. We hope Binance reverses course and re-lists the other HNT trading pairs soon.”
Helium’s focus is on deploying a network powered by physical hotspots for IoT. A Helium network allows IOT devices to communicate and share information with one another.
Participants who validate coverage and provide wireless hotspots are rewarded with HNT tokens.
Communication giant T-Mobile and Helium Labs partnered last month to expand the blockchain’s 5G network with Helium Mobile.
At the time of writing, HNT is valued at $4.62 according to CoinMarketCap.