WuBlockchain
South Korea's largest crypto exchange, Upbit, designated Sophon (SOPH) as a trading-warning asset and suspended deposits. The exchange cited concerns over disclosure, changes to the token-circulation plan and the transparency of related procedures.
Why it matters
Upbit's review could ultimately lead to SOPH being delisted if the cited issues are not resolved. The warning places project disclosures and token-supply communication at the center of the asset's trading status.
Market impact
Binance will remove seven USDC spot pairs on Sept. 25: AIXBT, DOLO, ENJ, HUMA, SXT, TNSR and TURTLE. Binance cited liquidity and trading-volume considerations, but the underlying tokens will remain listed through other trading pairs. Together, the actions highlight two different exchange risks for altcoins: compliance review on Upbit and declining pair activity on Binance.
Source: [소폰(SOPH) 거래 유의 종목 지정 안내 — 업비트(Upbit)](https://www.upbit.com/service_center/notice?id=1557103205&view=share)
Frequently asked questions
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Why did Upbit suspend SOPH deposits?
Upbit cited concerns over Sophon's disclosure, changes to its token-circulation plan and the transparency of related procedures.
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Could SOPH be delisted from Upbit?
Yes. Upbit's review could ultimately lead to SOPH being delisted if the cited issues are not resolved.
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Which Binance USDC pairs will be removed?
Binance will remove USDC spot pairs for AIXBT, DOLO, ENJ, HUMA, SXT, TNSR and TURTLE on Sept. 25.
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Will the affected Binance tokens be fully delisted?
No. The underlying tokens will remain listed on Binance through other trading pairs.
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What reasons did Binance give for removing the pairs?
Binance cited liquidity and trading-volume considerations for removing the seven USDC spot pairs.
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