Helium Foundation Executive Responds to Binance’s Sudden Delisting of HNT Token: Report

Helium Foundation Executive Responds to Binance’s Sudden Delisting of HNT Token: Report

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Executives from the Helium Foundation, the non-profit behind decentralized hotspot blockchain Helium (HNT), are responding to crypto exchange Binance’s sudden delisting of the project’s native token.

Binance delisted HNT’s main trading pairs last week with no specific explanation.

In a statement to Forbes, Binance spokesperson Jessica Jung said,

“[Binance periodically reviews] each digital asset we list to ensure that it continues to meet a high level of standard. When a coin or token no longer meets this standard or there are changes in the industry, we conduct a more in-depth review and potentially delist it in order to protect our users.”

Scott Sigel, Helium Foundation’s COO, told Forbes,

“There is no basis for Binance to delist several HNT pairs. There has been no change to the integrity of HNT and it continues to meet all of the standards the exchange sets…

There are dozens of other exchanges that continue to support HNT. We hope Binance reverses course and re-lists the other HNT trading pairs soon.”

Helium is focused on building out a network for the internet of things (IOT) powered by physical hotspots. Helium is designed to allow IOT devices connected to the network to communicate and share data. The HNT token is used to reward participants that validate coverage and provide wireless hotspots.

Last month, Helium founders Nova Labs partnered with communications giant T-Mobile to roll out Helium Mobile, an expansion of the blockchain’s 5G network.

At time of writing, HNT is trading at $4.62, which is 91.6% down from it’s all time high of $54.88.

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Featured Image: Shutterstock/Tithi Luadthong/LongQuattro

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