Exchanges

Binance delists 5 projects including SALT Lending

February 15, 2019, 3:31AM EDT

Binance, the largest crypto exchange by traded volume, announced Friday that it has decided to delist and cease trading of five tokens - CloakCoin, Modum, SALT, Substratum and Wings.

Binance says that it periodically reviews projects to ensure that they "continue to meet the high level of standard." According to Binance, the delisted projects no longer fulfill the necessary standard after conducting the recent reviews. The tokens will be delisted on Feb. 22 at 10 a.m. UTC. Withdrawals of the coins will be supported for another three months after the coins are delisted.

In November, it was uncovered that the SEC was investigating SALT Lending and issued a subpoena in February. The SEC was looking into whether SALT's ICO was an unregistered securities offering and also into how the firm spent the raised funds. According to CoinMarketCap, approximately 80 percent of SALT's liquidity came from Binance in the last 24 hours.