Binance set up ‘risk warning’ tag on altcoins

The world’s largest exchange by trading volume announced on October 1 that some digital assets on its platform, Binance will be implementing a new “risk warning” banner and pop-up message.

Notably, Binance has designated ten tokens as having a “risk warning” moving ahead, including Enjin Coin, Chiliz, and IOTA (IOTA). Enjin Cash

This tag will also be present on Binance for the coins of the following projects: Vanar Chain, Self Chain, Solar, Orion, Lisk, Metal DAO, Travala, and Solar.

Chiliz changed the CHZ token’s annual inflation rate, as part of an update to its Tokenomics earlier this year.
Binance has worked to strengthen its risk management and compliance protocols. The exchange’s disclosures early this year about the monitoring tag attached to some coins align with this most recent step.

The exchange has partially changed its strategy because of these steps, following a regulatory crackdown that resulted in a $4.3 billion settlement with US authorities in 2023. The United States Securities and Exchange Commission is also suing Binance.

While the world’s largest crypto exchange by trading volume already applies a monitoring tag to tokens with heightened volatility, in an announcement that it is taking this step in response to community feedback.

The warning specifically aims to alert users that the specified token has experienced notable changes in terms of Tokenomics,  will appear as a pop-up notification and banner for each currency.

The supply and Tokenomics of these tokens changed in the last 18 months. Binance will warn projects in the future that alter their Tokenomics significantly to increase supply.

ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.

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