Tag: Binance

• Voting ran from April 10 to April 16, 2025.
• ZEC and JASMY followed with 8.6% of the votes each.
• Binance says votes won’t be sole factor for delisting.

FTT, the native token of collapsed exchange FTX, is facing renewed pressure as it topped Binance’s second “Vote to Delist” round with 11.1% of the community votes.

The vote, which ran from April 10 to April 16, 2025, forms part of Binance’s broader governance programme, allowing users to weigh in on tokens marked with a Monitoring Tag.

These tokens are deemed to carry greater risk or volatility, prompting deeper internal evaluations by Binance. While voting results alone do not determine delistings, they significantly influence the exchange’s decision-making process.

The token has seen persistent downward momentum since the beginning of the year, and its association with FTX’s collapse in November 2022 continues to cloud investor confidence.

At the time of writing, FTT was trading at $0.80, down 4.1% in the past 24 hours, with its latest decline echoing sentiment-driven selloffs seen in the first round of voting.

Source: CoinMarketCap

Binance expands governance tools

Binance’s “Vote to Delist” initiative is aimed at improving transparency and strengthening user participation in governance. It targets assets flagged with Monitoring Tags, typically due to liquidity concerns, regulatory risks, or large price swings.

Although community sentiment plays a key role, Binance has clarified that delisting decisions are not solely determined by voting outcomes.

“The voting result will not be the sole deciding factor to determine the final delisting decision,” Binance stated on its Square platform.

The review process will also consider internal metrics and compliance standards, and any final decision may be delayed depending on procedural requirements.

FTT’s leading position among 17 tokens included in the second voting round suggests a strong community preference for removal, reinforcing the market’s wariness of its long-term viability.

Altcoins face price drops, delisting risk

Other tokens also registered notable levels of concern. Zcash (ZEC) and JasmyCoin (JASMY) each received 8.6% of the votes, reflecting increasing user doubt despite their historical popularity.

GoPlus Security (GPS) followed with 8.2%, while PlayDapp (PDA) came in at 7.6%. Voxies (VOXEL), Alpaca Finance (ALPACA), and STP Network (STPT) also featured prominently, with 7.1%, 6.3%, and 5.9% of the votes, respectively.

Price data shows these tokens have begun to react to the voting results. JASMY and STPT both dropped around 6% over the past 24 hours, with several other coins showing more modest declines.

For instance, VOXEL, PDA, and ALPACA all posted red candles, suggesting investor anxiety may extend beyond FTT.

Also included on the list were Flamingo Finance (FLM) with 4.3%, ARK (5.8%), Biswap (BSW) with 5.5%, and MovieBloc (MBL) at 4.2%.

Smaller vote shares were seen for Wing Finance (WING) at 3.8%, Ardor (ARDR) at 3.6%, and Perpetual Protocol (PERP) at 3.4%. NKN and LTO Network closed the list with 3.2% and 2.9% of the votes, respectively.

Market awaits Binance decision on FTT

While Binance’s final delisting decisions are pending, the data signals a clear community trend away from tokens viewed as unstable or compromised.

Market participants are expected to monitor Binance’s review process closely, particularly for tokens like FTT and JASMY, which continue to attract regulatory and public scrutiny.

The exchange has not announced a firm delisting timeline and reiterated that internal reviews are still in progress.

However, the market impact has already materialised, with sharp short-term price declines and trading volumes showing volatility across the affected tokens.

With this round of votes concluded, Binance’s next steps could set a precedent for how much influence community feedback will hold in shaping the platform’s asset offerings moving forward.