One of the largest cryptocurrency exchanges, OKX, announced delisting several trading pairs at once.
According to the Dec. 29 announcement, OKX will delist stablecoin USD Coin (USDC), Tether (USDT), and Bitcoin (BTC) trading pairs with several prominent privacy-focused cryptocurrencies, including Monero (XMR) and Dash (DASH). The delisting will take place on Jan. 4 and 5, 2024.
The exact reason for this decision is unknown. Platform representatives stated the following:
“To maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications regularly.”
OKX announcement
The exchange recommended that orders for these pairs be canceled prior to delisting, otherwise they will be canceled automatically within 1-3 business days. The exchange had also suspended accepting deposits in some currencies, including XMR and DASH, on Dec. 27. Withdrawals will be suspended on Mar. 5, 2024.
Earlier, the head of OKX listed five basic principles that guide the company when choosing cryptocurrencies for listing. As the CEO of OKX noted, in the process of work the team developed five basic principles for selecting tokens for placement on the exchange. In addition the CEO says the company has certain criteria for selecting coins for spot and futures trading. In its work, the platform adheres to the principles of transparency and strives to develop infrastructure and introduce technology.