{"id":528067,"date":"2022-12-16T14:45:49","date_gmt":"2022-12-16T11:45:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bnb-insurance-binance-listing-cz-addresses-delisted-projects-claims\/"},"modified":"2022-12-16T14:45:49","modified_gmt":"2022-12-16T11:45:49","slug":"bnb-insurance-binance-listing-cz-addresses-delisted-projects-claims","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bnb-insurance-binance-listing-cz-addresses-delisted-projects-claims\/","title":{"rendered":"# BNB insurance Binance listing? CZ addresses delisted project&#8217;s claims"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3cac931ada3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3cac931ada3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bnb-insurance-binance-listing-cz-addresses-delisted-projects-claims\/#%E2%80%9D_BNB_insurance_Binance_listing_CZ_addresses_delisted_projects_claims_%E2%80%9C\" >&#8221; BNB insurance Binance listing? CZ addresses delisted project&#8217;s claims  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BNB_insurance_Binance_listing_CZ_addresses_delisted_projects_claims_%E2%80%9C\"><\/span>&#8221; BNB insurance Binance listing? CZ addresses delisted project&#8217;s claims  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvNjVmMTk4YjktZGFkZS00ZGNmLWJiZWEtMDAzMGI3NmZjMjg2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>A decentralized <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> network project called Mithril (MITH) was recently delisted from Binance and in return, the crypto project asked for the 200,000 Binance Coin (BNB) it had to deposit as insurance for listing on the exchange.<\/p>\n<p>Binance CEO Changpeng Zhao aka CZ responded to MITH\u2019s demand on Twitter with a screenshot of their contract that suggests if the listed token price falls below a certain threshold, the exchange has the right to deduct the insurance fund partially or fully as an additional fee.<\/p>\n<p>CZ said that the said project\u2019s token price fell below the trigger threshold on multiple occasions and after looking at the project, it hasn\u2019t updated the community for almost 2 years. CZ claimed that the \u201cteam has made the right decision and acted fully within our right to do so.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Your token price is way below the trigger levels. Reading the comments. Your website is offline. You haven\u2019t tweeted or updated your community for almost 2 years. I believe our team has made the right decision and acted fully within our right to do so. Regards. 2\/2<\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1603649563058876417?ref_src=twsrc%5Etfw\">December 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The MITH project was founded by Jeff Huang, a famed Taiwanese musician and a popular nonfungible token (NFT) investor. The founder of the project has a tainted crypto record with on-chain analyst ZachXBT <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/@investigationsbyzachxbt\/22-000-eth-embezzled-and-over-ten-projects-failed-the-story-of-machi-big-brother-jeff-huang-a1ad073fcfa8\">accusing <\/a>him of embezzling 22,000 ETH.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>CryptoQuant verifies Binance&#8217;s reserves, reports no \u2018FTX-like\u2019 behavior<\/em><\/strong><\/p>\n<p>The exchange between the Binance CEO and a delisted project grabbed the crypto community\u2019s attention. While many in the crypto community were quick to point out that the MITH project has been non-existent since early 2021 and the listing insurance of 200K BNB was only valued at $2 million at the time of deposit against its current market value of $53 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Mithril&#8217;s ($MITH, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mithdotio?ref_src=twsrc%5Etfw\">@mithdotio<\/a>) last tweet was in January 2021 (!!!). The team just abandoned the project and is now requiring listing fees back from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> . LOL.<\/p>\n<p>P.S.: 200,000 BNB was around $2m back then. Now it&#8217;s around $65.5m <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/iS7kAbpRAp\">pic.twitter.com\/iS7kAbpRAp<\/a><\/p>\n<p>\u2014 Nick (@caysonwilde) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/caysonwilde\/status\/1603445365604335620?ref_src=twsrc%5Etfw\">December 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Many others questioned whether it was fair for the exchange to ask for security insurance in Binance\u2019s native token to get listed. Another user <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Mangyek0\/status\/1603671516901965824?s=20&amp;t=yhU9fQeE36X15GUC9O7JVQ\">questioned <\/a>whether Binance\u2019s focus on delisting based on the price of the token is the right <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach, given \u201cif the price has such a huge weightage it would push projects to pump\/dump or artificially inflate prices every time it goes below trigger price?\u201d<\/p>\n<p>Binance didn\u2019t respond to Cointelegraph\u2019s question at the press time.<\/p>\n<p>Binance has been in the headlines over the past week, but not for all the right reasons. Its proof-of-reserve audit became a hot topic of discussion as many financial experts raised concerns over the released audit. The crypto analytic firm CryptoQuant analyzed its reserve on-chain data and assured that there was no FTX-like behavior. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bnb-insurance-binance-listing-cz-addresses-delisted-project-s-claims\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BNB insurance Binance listing? CZ addresses delisted project&#8217;s claims &#8220; A decentralized social network project called Mithril (MITH) was recently delisted from Binance and in return, the crypto project asked for the 200,000 Binance Coin (BNB) it had to deposit as insurance for listing on the exchange. Binance CEO Changpeng Zhao aka CZ responded&#8230;<\/p>\n","protected":false},"author":1,"featured_media":528068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/65f198b9-dade-4dcf-bbea-0030b76fc286.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75166,74894,77672,74863,74355],"class_list":["post-528067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-binance-coin","tag-blockchain","tag-changpeng-zhao","tag-cryptocurrencies","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=528067"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/528068"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=528067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=528067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=528067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}