Crypto:
29757
Bitcoin:
$67.139
% 0.18
BTC Dominance:
%54.3
% 0.12
Market Cap:
$2.43 T
% 0.29
Fear & Greed:
73 / 100
Bitcoin:
$ 67.139
BTC Dominance:
% 54.3
Market Cap:
$2.43 T

Binance Delisted This Stablecoin!

Binance Delisted This Stablecoin!

Binance delisted Anchored Coins’ Euro stablecoin (AEUR) due to its value surging over 200% on the listing day, causing some users to incur losses by purchasing at a high price. Binance decided to compensate users who bought AEUR at a high value and couldn’t sell after trading was halted. Affected users will receive refunds at the fixed rate of 1 AEUR = 1.08 USDT.

The listing of AEUR garnered significant attention in the crypto community. However, some users were unaware that AEUR is a stablecoin, leading to losses from buying at a high price. Short-term demand surged, causing price discrepancies.

The significant price volatility affected the prices of AEUR trading pairs, including Bitcoin and Ether, covered under the compensation plan. AEUR transactions are currently suspended on Binance. This incident occurred following Binance’s suspension of AEUR.

Anchored Coins, based in Zug, Switzerland, issues AEUR. The fintech company is approved by the Swiss Financial Market Supervisory Authority (FINMA) and claims that each AEUR is backed 1:1 by reserves in FINMA-licensed banks. The stablecoin is currently minted on the Ether and BNB Chain.

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