Binance Faces Backlash Over Potential Delisting of Zcash
Binance faces criticism for proposing to delist privacy token Zcash (ZEC) from its exchange. Key points include:
- Zcash has a market cap of $500 million.
- It is on the delisting ballot alongside FTX's FTT and JASMY tokens.
- Zcash founder Zooko Wilcox questioned Binance's decision, raising concerns about future implications.
- Digital Currency Group founder Barry Silbert and other industry figures emphasized the importance of privacy in cryptocurrencies.
- Regulatory scrutiny around privacy tokens has increased, with past discussions on potential bans in the EU.
- ZEC is currently priced at $31.26, down 3.1% in the last 24 hours.