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Bit-LoRA as an application of BitNet and 1.58 bit neural network technologies – Towards Data Science

For experiments I took my proprietary data for a text generation task. The data itself is not that important here, I would just say that it is kind of a small subset of the instructions dataset used to train instruction following LLMs. As the base model I decided to use microsoft/Phi-3-mini-4k-instruct model. I did 3 epochs of LoRA adapters tuning with fp16 mixed precision training using Huggingface Trainer and measured the loss on evaluation. After that I implemented BitNet (replacing the linear layers in LoRA adapters) and 1.58 bit LoRA training and reported the results. I used 4 bit base model quantization with BitsAndBytes during the training in Q-LoRA configuration.

The following LoRA hyperparameters were used: rank = 32, alpha = 16, dropout = 0.05.

3.1. Classic LoRA training

For all LoRA experiments QLoRA approach was used in the part of the base model quantization with NF4 and applying LoRA to all the linear layers of the base model. Optimizer is Paged AdamW with warmup and cosine annealing down to 90% of the maximum learning rate. Maximum learning rate equals 2e-4. Train/test split was random, the test set is 10% from the whole dataset.

3.2. LoRA BitNet implementation

For BitNet LoRA training the approach from BitNet: Scaling 1-bit Transformers for Large Language Models was used with the code for its implementation. According to BitNet paper the weights of the LoRA layers were binarized with scaling:

At the same time activations should be also quantized according to the paper:

According to the formulas provided you can see that each parameter is being transformed with the sign function to be either +1 or -1, those parameters are multiplied by quantized and normalized input X and scaled with the mean absolute value of parameters of the layer. Code implementation:

All the code above is from https://github.com/kyegomez/BitNet GitHub repository.

After LoRA training the adapter weights can be merged with the base model because of the fact that each LoRA adapter is just a pair of linear layers without biases and non-linear activations. Normalization of activations (LN(x)) and their quantization in the approach are making LoRA adapters merger more difficult (after merger LoRA adapter share the same inputs for the linear layer as the base model these layers work with activations without any additional modifications), that is why the additional experiment without normalization and activations quantization was conducted and led to better performance. To do such a modifications we should just modify forward method of the BitLinear class:

Presented code is quantization aware training, because the master weights of each BitLinear layer are still in high precision, while we binarize the weights during the forward pass (the same we can do during the model inference). The only issue here is that we additionally have a scale parameter that is individual to each layer and has high precision.

After we get BitLinear layers we need to replace linear layers in the LoRA adapter with these new linear layers to apply BitLinear modification to classic LoRA. To do so we can rewrite update_layer method of the LoraLayer class (peft.tuners.lora.layer.LoraLayer) with the same method but with BitLinear layers instead of Linear:

After we create such a class we can replace the update_layer method of the original LoraLayer with the new one:

3.3. 1.58 bit LoRA

For this experiment the approach from The Era of 1-bit LLMs: All Large Language Models are in 1.58 Bits was used. The conceptual difference is that instead of binarization to +1 and -1 in this paper authors propose to quantize weights to -1, 0 and +1 for better accuracy.

Authors excluded activations scaling from the pipeline that was creating extra difficulties for merger with the base model in our experiments. In our experiments we additionally removed activation quantization from the pipeline to make LoRA adapter merger simpler.

To tune the LoRA adapters with this approach we should simply update the weight_quant function with following:

For the 1.58 bit implementation I used Binary Magic: Building BitNet 1.58bit Using PyTorch from Scratch publication as the starting point.

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Hackers exploit Chrome plugin to steal millions from Binance accounts – Cointelegraph

Update (04/06/2024 at 19h30 UTC): This article has been updated to include comment from a Binance spokesperson.

A Chinese trader lost $1 million to a hacking scam using a promotional Google Chrome plugin called Aggr. The promotional plugin steals cookies from users, which hackers use to bypass password and two-factor authentication (2FA) verification and log into the victims Binance account.

A trader took to X to recount the ordeal of losing their life savings to an unexpected scam.The trader, who goes by the X username CryptoNakamao, said that on May 24, their Binance account started trading randomly, and they only realized this after opening the Binance app to check the Bitcoin (BTC) price.

By the time he sought assistance from Binance, the hacker had already withdrawn all funds.

The trader claimed that the hackers had gained access to his web browser cookie data, which they had stolen via a Chrome plugin called Aggr. The trader installed the plugin to access prominent trader data only to realize malicious software was created to steal users web browsing data and cookies.

The hacker then used the collected cookies to hijack active user sessions without a password or authentication and carried out multiple leveraged trades to spike the price of low liquidity pairs and profit from them.

Related: Ethereum due for new all-time high as countdown to Ether ETF nears end

The trader explained that even though the hacker couldnt withdraw funds directly due to 2FA, they used the cookies and active login sessions to make profits through cross-trading.

The trader claimed that the hacker bought several tokens in the Tether (USDT) trading pair with abundant liquidity and placed limit sell orders exceeding the market price in the Bitcoin, USD Coin (USDC) and other trading pairs with scarce liquidity.

Finally, the hacker opened leveraged positions, bought a large amount in excess, and completed the cross-trading. A cross trade is a practice where buy and sell orders for the same asset are offset without recording the trade on the exchange.

The trader claims that Binance did not implement essential security measures despite unusually high trading activity. Furthermore, even after receiving timely complaints, the exchange failed to take action to stop it, they added.

In their investigation, the trader discovered that Binance had been aware of the fraudulent plugin for quite some time and was already conducting an internal investigation. Despite knowing the hackers address and the nature of the plugin scam, the trader claimed Binance failed to inform the traders or take any actions to prevent the fraud. The trader wrote:

A spokesperson from Binance told Cointelegraph that an investigation into the incident uncovered that the affected user had assumed a separate incident from 1st March was due to the fraudulent aggr.trade plugin based on an X post dated 28th May

Our investigation of that incident did not find any such plugin based on the data and material provided to us by the user at that time. Prior to the X post a community influencer had alerted us to the plugin on 27th May and we immediately implemented additional security measures, the spokesperson said.

A subsequent post from the affected user translated by Cointelegraph notes that he had made some biased or unfounded accusations in his initial personal investigations into the incident.

Magazine: Ether ETFs expected in June, CZ leaves Binance France, and other news: Hodlers Digest, May 26 June 1

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Binance announces decision to delist 4 altcoins amid sharp price decline By Investing.com – Investing.com

Investing.com - Binance has announced its intention to delist four altcoins: OMG Network (), Waves (), Wrapped NXM (), and NEM () on June 17, 2024.

This decision follows a comprehensive review aimed at maintaining a safe trading environment. The delisting will result in the cessation of trading for several currency pairs, significantly impacting their market prices.

With Binance delisting several cryptocurrencies, discover alternative opportunities and maximize your investments with InvestingPRO. Get exclusive AI-powered analyses and outperform market volatility with an additional discount by using the promo code SAPRO2!

Binance states that this move is part of a periodic review to ensure trading quality remains at its highest. The criteria influencing this decision include the dedication of the project teams, project development quality, trading activity, network stability, community engagement, compliance with new regulatory requirements, and their impact on the blockchain.

Affected trading pairs include OMG/USDT, , , , WAVES/USDT, WNXM/USDT, and XEM/USDT. After June 17, Binance will automatically cancel all pending orders for these pairs.

Starting June 18, the platform will no longer accept new buy orders using these pairs. However, withdrawals will remain possible until September 17, 2024.

Additionally, Binance will cease supporting these coins in other services such as Binance Earn, Binance Savings, Binance Staking, Binance Margin, Binance Convert, Binance Gift Cards, and Binance Pay. Notably, Binance Futures will remove the WAVES/USDT pair on June 11, while perpetual contracts for OMG/USDT and XEM/USDT will not be delisted.

Investors should also be aware of the possibility to convert these coins into stablecoins, which Binance plans to facilitate after September 18, 2024.

Following the announcement, the value of these coins dropped significantly. OMG decreased by 25.76%, WAVES by 27.06%, and XEM by 28.73%. In contrast, WNXM quickly rebounded from its decline, currently down by only 3.27%.

These significant price changes reflect the profound impact of Binance's decisions on cryptocurrency markets. For instance, the delisting of DREP, MobileCoin, and pNetwork in March led to their values halving within hours. Conversely, the listing of new tokens like Axelar Network () and Dogwifhat () in March saw their prices surge by over 25% post-announcement.

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Introducing the Inaugural Binance World Championship: Celebration of Users with Over $4.2M Crypto Rewards – PR Newswire

Inspired by upcoming global sporting events, Binance hosts exclusive trading tournaments and promotions to celebrate community excellence

DUBAI, UAE, June 4, 2024 /PRNewswire/ --Binance, the global blockchain ecosystem trusted by over 190 million users worldwide, is thrilled to announce the launch of its first-ever Binance World Championship. With the largest ever rewards pool in Binance's history at over $4.2 million, this championship is part of Binance's broader efforts to celebrate its users and community. Both new and existing users are invited to learn more about crypto, take part in the campaigns, showcase their trading skills and be rewarded.

Over the next few months, the world's attention will be fixed on several global sporting events that bring nations and individuals together in friendly rivalry. Inspired by the spirit of these exciting events, Binance World Championship will be bringing together the thrilling excitement of competitions with the vast possibilities of crypto. The championship officially kicks off today and spans three weeks, concluding on June 25, 2024.

Binance World Championship features three skills-based tournaments and three exclusive promotions across various products within Binance's vast ecosystem. From newcomers to budding traders to trading veterans, all eligible users are given the chance to take part in their chosen activities and complete the tasks for a chance to be amongst the victors that earn attractive rewards.

The tournaments comes with its own prize pool and requirements, including:

In addition to the tournaments, Binance users can also enjoy three exclusive promotions during this three-week period:

Rachel Conlan, Chief Marketing Officer at Binance, shared: "With the launch of the first-ever Binance World Championship, we are excited to be celebrating our users and uplifting community excellence. Echoing the camaraderie and competitive spirit integral to sports, this championship aims to offer engaging and enriching experiences to all our users - from novices to the veterans of the crypto world. We are not only giving our community a chance to enhance their understanding of crypto but also recognizing their unwavering support through rewarding opportunities."

"As the championship unfolds over the coming weeks, we look forward to seeing our users showcase their skills and knowledge. Our hope is that they will further discover and unlock the expansive possibilities of crypto during this process," added Rachel.

More information on the Binance World Championship can be found here.

Disclaimer: The products and services referred to herein may be restricted in certain jurisdictions or regions or to certain users, in accordance with applicable legal and regulatory requirements. These materials are intended only for those users who are permitted to access and receive the products and services referred to and are not intended for users to whom restrictions apply. You are responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of any products and services offered by or available through Binance in each country or region from which they are accessed by you or on your behalf. Binance reserves the right to change, modify or impose additional restrictions with respect to the access to and use of any products and/or services offered from time to time in its sole discretion at any time without notification.

About Binance

Binance is a leading global blockchain ecosystem behind the world's largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 190 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com.

SOURCE Binance

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Binance to Restrict Most Major Stablecoins – Tether at Risk? – CCN.com

Key Takeaways

Major exchanges like Binance are taking steps to comply with new European rules known as MiCA (Markets in Crypto-Assets Regulation). This includes restrictions on unauthorized stablecoins, which pose restricting risks for major coins like Tether.

But while Tether and Circle are working to have their coins approved for trading in the EU, there seems to be some confusion about how MiCA works.

Binance announced changes to comply with new European Union cryptocurrency regulations. These regulations, known as MiCA (Markets in Crypto-Assets Regulation), aim to bring more oversight to the crypto space.

One key change is the restriction of unauthorized stablecoins for EU users. These are stablecoins that havent met the EUs regulatory standards. While Binance wont completely remove them from the platform so wont delist them -, users wont be able to use them for all features.

EU users can now expect limited functionality, but trading is still possible. In a nutshell, unadvertised stablecoins wont be accessible through features like the conversion tool. This means users cant easily convert other cryptocurrencies into these specific stablecoins. However, users can likely still trade these stablecoins with other cryptocurrencies for now. Futurerestrictions are not out of the question.

Binance is taking a phased approach, aiming for a smooth transition for users. This means the availability of unauthorized stablecoins might further decrease over time.

Only a handful of stablecoin issuers hold this license currently, notably Icelands Monerium (EURe) and the US exchange Gemini (GUSD). This means major players like Tether (USDT), with its massive $112 billion market cap, could face restrictions.

Tether, the worlds dominant stablecoin, has already faced headwinds in Europe. Crypto exchange OKX recently aimed to delist USDT trading pairs for European users, highlighting the impact of upcoming regulations. Tether has expressed interest in EU regulation, but its future remains uncertain.

While Tether has reportedly applied for EU regulation, its unclear how many other issuers have followed suit. Circle has applied to be recognized as an EMI in the EU basically, an online bank -, and, once obtained this status, its stablecoin will be regulated in the EU. However, with USDT accounting for a whopping 73.5% of global crypto trading volume, its fate in the EU market is being closely watched.

To ensure EU approval, Tether has secured a partnership with BDO Italia, a branch of the worlds fifth-largest accounting firm. BDO Italy will audit Tethers reserve fund assurances and attestation reports. Previously, Tether released audit reports quarterly, but to enhance transparency, theyve committed to switching to a monthly release schedule. This provides investors and institutions with more frequent updates on Tethers financial health.

Binance, and likely other exchanges, are taking steps to comply with MiCA in Europe. This means restricting trading of non-regulated stablecoins, but not necessarily delisting them entirely. The expectation is that major players like Tether will eventually obtain the necessary licenses and become compliant.

However, its important to clarify a common misconception. MiCA doesnt introduce entirely new rules for fiat-backed stablecoins. Instead, it reinforces existing regulations under the Electronic Money Directive (EMD) established in 2000.

This because the EMD defines e-money as a digital alternative to cash, similar to pre-paid cards. Furthermore, since fiat-backed stablecoins represent a claim on the issuer, they fall under this definition. Under the EMD, only authorized Electronic Money Institutions (EMIs) and credit institutions can legally issue fiat-backed stablecoins in the European Economic Area (EEA).

Many currently offered stablecoins might already be operating illegally in Europe due to a lack of proper authorization. MiCA simply clarifies existing law and imposes additional requirements for compliant issuers starting from July 2024.

Binances move reflects Europes existing regulatory landscape for fiat-backed stablecoins. While some may be restricted for trading, MiCA aims to bring more clarity and oversight to this growing digital asset class.

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Participate in Binance World Championship for Exciting Rewards – FinanceFeeds

Binance, a global blockchain ecosystem trusted by over 190 million users, is excited to announce the launch of the Binance World Championship. With a rewards pool exceeding $4.2 million, this event celebrates Binances users and community.

New and existing users are encouraged to learn about crypto, participate in campaigns, showcase their trading skills, and earn rewards. This championship marks a significant milestone in Binances history, highlighting the platforms commitment to fostering an engaging and rewarding environment for its users.

Over the next few months, several global sporting events will capture the worlds attention, uniting people in friendly competition. Inspired by these events, the Binance World Championship combines the excitement of competition with the vast possibilities of crypto. The championship starts today and runs for three weeks, concluding on June 25, 2024. This initiative aims to bring together the thrilling excitement of competitions with the innovative world of cryptocurrency, offering participants a unique opportunity to engage with the platform in a dynamic way.

The Binance World Championship includes three skill-based tournaments and three exclusive promotions across Binances extensive ecosystem. Participants, ranging from newcomers to experienced traders, can join their chosen activities, complete tasks, and compete for attractive rewards. This inclusive approach ensures that users of all experience levels can participate and benefit from the championships offerings. The tournaments feature distinct prize pools and requirements, tailored to different aspects of trading and engagement within the platform.

Tournaments and Prize Pools

Exclusive Promotions

In addition to the tournaments, Binance users can enjoy three exclusive promotions during this three-week period:

Rachel Conlan, Chief Marketing Officer at Binance, shared: With the launch of the first-ever Binance World Championship, we are excited to be celebrating our users and uplifting community excellence. Echoing the camaraderie and competitive spirit integral to sports, this championship aims to offer engaging and enriching experiences to all our users from novices to the veterans of the crypto world. We are not only giving our community a chance to enhance their understanding of crypto but also recognizing their unwavering support through rewarding opportunities.

As the championship unfolds over the coming weeks, we look forward to seeing our users showcase their skills and knowledge. Our hope is that they will further discover and unlock the expansive possibilities of crypto during this process, added Rachel.

Binance is a leading global blockchain ecosystem behind the worlds largest cryptocurrency exchange by trading volume and registered users. Trusted by over 190 million people in more than 100 countries, Binance is renowned for its industry-leading security, transparency, trading engine speed, and investor protections. The platform offers an unmatched portfolio of digital asset products and services, ranging from trading and finance to education, research, social good, payments, institutional services, and Web3 features.

Binance is dedicated to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people worldwide. Through its comprehensive range of offerings, Binance aims to make cryptocurrency accessible and beneficial to a diverse global audience. The platforms commitment to innovation and user-centric services has cemented its position as a trusted and influential player in the blockchain industry.

The Binance World Championship is a testament to the platforms ongoing efforts to engage its community and reward users for their participation and loyalty. By combining the excitement of global sporting events with the innovative world of cryptocurrency, Binance is creating a unique and rewarding experience for its users. This championship not only celebrates the achievements of its participants but also highlights the potential of crypto to bring people together in a spirit of friendly competition and collaboration.

In conclusion, the Binance World Championship offers a comprehensive and inclusive opportunity for users to engage with the platform, showcase their skills, and earn substantial rewards. With its extensive prize pools, diverse tournaments, and exclusive promotions, the championship is set to be a landmark event in Binances history, reinforcing its commitment to its users and the broader crypto community

The products and services referred to herein may be restricted in certain jurisdictions or regions or to certain users, in accordance with applicable legal and regulatory requirements. These materials are intended only for those users who are permitted to access and receive the products and services referred to and are not intended for users to whom restrictions apply. You are responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of any products and services offered by or available through Binance in each country or region from which they are accessed by you or on your behalf. Binance reserves the right to change, modify or impose additional restrictions with respect to the access to and use of any products and/or services offered from time to time in its sole discretion at any time without notification.

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WAVES Price Crashes 30% After Binance Delisting – Will it Fall Below $1? – CCN.com

Key Takeaways

The WAVES price has fallen 97% since its all-time high over two years ago in March 2022. While the price seemingly began a reversal in January 2023, that proved to be short-lived. WAVES reversed trend in 2024, declining over 60%.

On June 3, Binance announced the delisting of WAVES, triggering another downward movement. The current breakdown from a long-term pattern suggests that WAVES could be headed below $1 and possibly toward a new all-time low.

On June 3, the WAVES price fell sharply, breaking down from its ascending support trend line and horizontal support area at $2.25. The price fell to a low of $1.63, a decrease of 30% since the start of the day.

The decrease was likely caused as a result of Binance announcing the delisting of WAVES from June 17. This follows previous delistings from Binance.US and Upbit.

There has been speculation that the decrease is related to the depeg of WAVES stablecoin Neutrino, which currently trades at $0.03. However, the stablecoin started depegging in 2023 and was trading at $0.03 in March of that year.

To the contrary, the WAVES price increased over 300% between June 2023 and March 2024, and has fallen since, with the decrease accelerating in June.

However, the depeg could have contributed to the delisting. According to Binance, there are numerous reasons that the exchange looks at to arrive at a decision, some of them being stability of the network and the commitment of the team to the project. It is possible that WAVES is failing these categories due to the Neutrino depeg.

In any case, the next closest support area is at $1.45, last reached in August 2023. Technical indicators suggest the price will fall to it. Both the MACD and RSI broke down from their ascending support trend lines and are now trending downward.

The weekly time frame chart shows that WAVES has increased inside an ascending parallel channel since the start of 2023. These channels usually contain corrective patterns, meaning that a breakdown is the most likely future scenario.

The ongoing WAVES price decrease has triggered the breakdown, which will be confirmed with a weekly close below $1.70.

If this happens, WAVES can fall to the next long-term horizontal support level at $0.55, which is the final support before the all-time low. Similarly to the daily time frame, the weekly RSI and MACD are bearish, supporting the breakdown.

The WAVES token price decrease today was likely accelerated due to the Binance delisting. However, the price action and indicator readings had already been bearish before. Since WAVES is confirming a breakdown from a long-term pattern, it is likely to resume its downward trend toward its all-time low.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the authors opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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Binance Expands Trading Options with New Pairs and Trading Bots – Blockchain.News

New Trading Pairs on Binance Spot

Binance, one of the leading cryptocurrency exchanges, announced the addition of new trading pairs to its platform. According to Binance, the exchange will open trading for the HIGH/TRY, PEOPLE/FDUSD, and TNSR/USDC pairs starting June 5, 2024, at 08:00 UTC.

In addition to the new trading pairs, Binance will also enable Trading Bots services for these pairs at the same time. Trading Bots are designed to automate trading strategies, allowing users to execute trades based on pre-set rules, which can be particularly useful in volatile markets. This enhancement aims to provide Binance users with more sophisticated tools to manage their trading activities.

Binance is offering zero maker fees on FDUSD trading pairs until further notice. Additionally, users will enjoy discounted taker fees on all existing and new USDC spot and margin trading pairs. These promotions are part of Binance's ongoing efforts to make trading more cost-effective for its users.

However, it is important to note that trading eligibility for these new pairs is subject to the user's country or region of residence. Currently, residents from countries such as Canada, Cuba, Iran, the United States, and several others are restricted from trading these pairs. Binance has indicated that this list may be updated periodically to reflect changes in legal and regulatory requirements.

To participate in trading the new pairs, users must complete account verification. This step ensures compliance with international regulatory standards and enhances the security of the trading environment on Binance.

Binance continues to expand its offerings to provide users with more trading options and tools. The addition of new trading pairs and the introduction of Trading Bots services are expected to enhance the overall trading experience on the platform.

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Binance Delists WAVES, OMG, XEM, and WNXM – What to Do With Delisted Crypto? – CCN.com

Key Takeaways

Binance, the worlds largest cryptocurrency exchange, has announced plans to delist four tokens from its platform later this month. This decision means that traders can no longer buy, sell, or hold these coins on Binance.

Exchanges delist cryptocurrencies for various reasons, and this process directly affects the holdings of cryptocurrency traders. Heres what users can do with their cryptocurrencies once an exchange delists them.

Binance has announced the delisting of several tokens. Effective June 17, 2024, OMG, WAVES, WNXM, and XEM will no longer be available for trading on its platform.

The specific trading pairs being removed are OMG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, WAVES/USDT, WNXM/USDT, and XEM/USDT.

All trade orders in these pairs will be automatically removed after trading ceases on June 17, 2024. Additionally, deposits of these tokens will not be credited after June 18, and withdrawals will no longer be supported after September 17, 2024.

Following the announcement, OMG Networks OMG fell by 26% to $0.5187, Wavess WAVES dipped by 27% to $1.71, and NEMs XEM collapsed by 30% to $0.02508. Only Wrapped NXM had a minor reaction to the news, decreasing by 1.5% to $81.20.

This decision comes amid increasing regulatory scrutiny and evolving market dynamics within the cryptocurrency industry. By delisting tokens that do not meet Binances stringent standards, the exchange aims to adapt to these changes and maintain the quality of its listings.

Delisting refers to the removal of an asset from an exchange, which can occur either at the request of the projects team or due to the asset or its team failing to meet the exchanges listing requirements. Several factors can contribute to the decision to delist an asset, including overall team commitment to the project, quality and level of development activity, project network and smart contract stability.

Furthermore, the level of public communication from the project team and the responsiveness to due diligence requests from an exchange are factors that may contribute to the delisting of cryptocurrencies. Evidence of unethical or fraudulent behavior, contribution to a healthy, sustainable blockchain and cryptocurrency ecosystem, and other reasons deemed unacceptable or risky by the exchange are also parts of the exchanges consideration.

When an asset is delisted, the exchange removes all its trading pairs. While the asset can still be traded on other exchanges including decentralized ones or through over-the-counter (OTC) trading, trading activity on the delisting exchange will cease.

After delisting, the exchange typically keeps withdrawals open for a specified period, allowing users to withdraw their existing funds even though trading is no longer available on the platform. This ensures users can access their assets despite the delisting.

Understanding the implications of a cryptocurrency delisting is crucial for making informed decisions about holdings. Users have three primary options: transfer the coins to another exchange, hold them, or sell them.

Transferring the coins to another exchange is feasible if other exchanges support the delisted coin. This process involves creating accounts on both exchanges, verifying coin support, generating a deposit address, initiating a withdrawal, and confirming the transaction. Be aware that this may incur a withdrawal fee.

Holding the coins can be a speculative strategy, hoping for a potential relisting or value increase. However, this approach carries the risk that the coin may never return to an exchange and its value may not recover.

Selling the coins is another option. If the coin is no longer available on regular exchanges, this often involves over-the-counter (OTC) markets or peer-to-peer (P2P) exchanges. However, this can be challenging and might require accepting a discounted price due to reduced liquidity.

When transferring coins, ensure you understand both exchanges withdrawal fees and minimum deposit amounts. These factors can vary and impact the overall process.

Given the complexity and risks of handling delisted coins, seeking guidance from a financial advisor or crypto expert can help. Conduct thorough research, evaluate the risks and rewards of each option, and consider all associated fees.

Delisting can significantly impact a coins liquidity and price. Therefore, its essential to know your options and proceed with caution. Whether you transfer, hold, or sell your coins, informed decision-making is key to effectively managing the consequences of delisting.

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Binance to Update Managed Sub-account (MSA) Function with New Requirements and Fees – Blockchain.News

Binance, a leading cryptocurrency exchange, has announced significant updates to its Managed Sub-account (MSA) function, which will take effect from July 1, 2024. According to Binance, these changes aim to ensure an optimal user experience and maintain platform efficiency.

The update introduces several new regulations and fees for MSAs, which are sub-accounts managed by trading teams under a master account. The main highlights are:

Once an MSA is enabled, it must maintain a monthly average asset balance of at least 100,000 USD equivalent to continue operating. This requirement ensures that only well-funded accounts can utilize the MSA functions.

MSAs are not eligible for liquidity provider program rebates, irrespective of the master account's program tier. However, trading volume in MSAs will be counted towards the liquidity provider volume requirement of the master account. Additionally, if the master account is eligible for maker rebates, the MSA's maker fee will be zero.

The MSA fee will be charged to the trading team's master account on a monthly basis. The fee is calculated based on the total asset value and trading volume of all MSAs under the master account. The trading team will be charged the higher of the following:

The Asset Value Based Fee is calculated on a progressive basis, while the Trading Volume Based Fee is calculated daily and aggregated monthly. The fee structure ensures that the costs reflect the activity level and asset holdings of the MSAs.

Binance reserves the right to determine all calculations of volumes and fees at its sole discretion. The company can amend or terminate the Managed Sub-account function for various reasons, including compliance with laws, technical issues, or force majeure events. Any adjustments will be reviewed and approved by Binance.

For more details, please refer to the official announcement from Binance.

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