Changpeng Zhao (CZ), founder and former CEO of Binance, dismisses rumors that the exchange is planning to delist Ethereum (ETH). 

Binance New Listing Model Sparks ETH FUD

This development arose after Binance introduced two new community-driven features: ’Vote to List’ and ‘Vote to Delist.’ Notably, the new features allow users to decide which tokens will appear on the Binance platform. 

With this features, users can vote to have Binance list a particular token or delist it based on their preference. However, shortly after Binance introduced the system, fake news started making the rounds suggesting that the exchange was planning to delist Ethereum. 

CZ Denies Claim 

As the rumor gained momentum, it triggered panic among investors, particularly Binance users. Reacting, Binance’s CZ dismissed the rumors emphatically, stating that anyone who “believes it deserves to be poor.” 

His response was part of an effort to reassure the crypto community of Binance’s continued support for Ethereum. It is also intended to curtail unfounded panic that might negatively impact ETH’s price action. 

CZ has been a long-term fan of ETH. In a recent interview, he suggested that Ethereum is an essential technology for decentralized finance (DeFi), given its widespread adoption as the backbone for several DeFi applications. 

The Binance founder also regretted missing the opportunity to invest early in ETH. Despite ranking as one of crypto’s richest, an early investment in Ethereum would have grown CZ’s fortune significantly.  

Binance’s Support for ETH 

Meanwhile, Ethereum was among the first tokens listed on Binance immediately after the exchange launched in 2017. Ever since, Binance has introduced new markets for the second-biggest cryptocurrency by market cap. 

At the moment, Binance has 15 trading pairs for Ethereum, including ETH/BTC, ETH/USDC, ETH/USDT, and ETH/FDUSD. 

Notably, the ETH/USDC pair ranks as the fourth most traded crypto pair on Binance in the past day, with a daily volume of $1.54 billion. In the meantime, ETH is changing hands at $1,886, with a daily decline of 1.56%.