TL; DR
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Binance has announced that they will be delisting Money.
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Since then, the price of Monero has fallen by more than 20%.
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Most crypto newcomers still go through centralized exchanges, and Binance (the largest centralized exchange in the world) plans to halt all Monero trading. This makes it MUCH harder to find/trade.
Full story
Oh boy, do we have some TEA for you.
Well… it’s actually just crypto news, but we’re going to report it like it’s popular gossip (because it is).
This is what happened:
Binance has announced that they will be delisting Money (OMG.)
That now looks like a brand, because:
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Monero has come under scrutiny by global researchers (it’s a privacy coin and many criminals seem to like to use it).
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Furthermore, Binance has a brand new periodic due diligence program since CZ pleads guilty to money laundering (old news).
So it’s not surprising that Binance broke up with Monero…
But here’s the thing:
Since then, the price of Monero has fallen by more than 20%.
And while the short-term effect is clear, the long-term effect could potentially remove Monero from popular circulation.
Think about it:
Most crypto newcomers still go through centralized exchanges, and Binance (the largest centralized exchange in the world) plans to halt all Monero trading. This makes it MUCH harder to find/trade.
And we’re not huge Monero enthusiasts or anything, but…
There’s something to be said for a token that supports financial privacy by default.