Many people were not concerned about being delisted due to their lack of activity; however, some people questioned the emphasis on price for delisting because it may encourage projects to artificially inflate the price. This is because the emphasis on price for delisting may encourage projects to artificially inflate the price.

Binance recently removed a decentralized social network project called Mithril (MITH) from its list of available cryptocurrencies. In response, the cryptocurrency project made an effort to recover the 200,000 BNB (BNB) it had had to pay as an insurance premium before listing on the market.

Binance CEO Changpeng Zhao responded to the demand made by MITH on Twitter by posting a screenshot of his contract. The screenshot gives the impression that if the price of the listed token falls below a particular barrier, the exchange has the ability to deduct some or all of the insurance fund as an additional cost. This could be the case.

CZ stated that the token price for the aforementioned project has dropped below the trigger level on many occasions, and after investigating the project, it was found that it had not updated the community in almost two years. CZ also stated that the project had not communicated with the community in almost two years.

CZ said that the group had arrived at the correct judgment and that they did so while remaining entirely within their legal jurisdiction to do so.

On-chain analyst ZachXBT has filed 22,000 ether theft claims against the project’s developer, who is known for having a checkered track record in the cryptocurrency space.

The interaction that took place between the CEO of Binance and the head of a project that was delisted has drawn the attention of the cryptocurrency community.

The MITH project has not been active since early 2021, as many members of the cryptocurrency community were keen to point out, and the 200,000 BNB listing insurance was only worth $2 million at the time of deposit, in contrast to its value of current market. of $53 million.

Over the course of the past week, the cryptocurrency exchange known as Binance has received a lot of media coverage, though not always for entirely favorable reasons. As a consequence of the large number of financial industry professionals who raised concerns regarding the audit disclosure, the reserve test audit has been a predominant topic of discussion.