Hold Bitshares (BTS) on Binance? Withdraw your balance now!
If you've not yet read it, check out the previous Hive blog post regarding this topic.
Binance has chosen to fully delist Bitshares (BTS) from their centralized cryptocurrency exchange.
The final date to withdraw your BTS funds from Binance is rapidly approaching - 7th March 2024 - mere days away.
As you can see from their Bitshares account, they still have over 400 million BTS remaining on their books which their users have thus far yet to withdraw.
After the deadline passes, Binance intends to replace user BTS balances with "stablecoin" equivalent tokens. Such tokens are likely not publicly audited nor transparently collateralized, so take your real BTS instead of a substandard FIAT token.
Do not miss the deadline, you aught to withdraw instead of accepting their "stablecoin" in return for your real crypto tokens!
If you don't yet have a bitshares account, it's free and quick to create a cloud based account: https://bts.exchange/#/create-account/
Why are they doing this?
It's simple, really, as mentioned in the previous blog post:
- Binance was found guilty of committing multiple severe financial crimes, they're being fined billions as a result; their CEX comes across as on life support and their reputation seems permanently damaged. It's for the best that Bitshares dissasociates itself from them, imo.
- CZ is going to prison, potentially for decades, with his sentencing having been pushed back to april 2024.
- Binance is being sued by families of hamas victims/hostages. I don't know about you, but if these allegations are legitimate then Bitshares ceasing association with Binance sounds good to me.
- Binance will have to return close to $1.5 billion to the users they defrauded (that means you), through disgorgement! Don't miss out on your substantial court ordered payout! Seriously, you could be looking at a substantial payout if you have spent a lot of fees at Binance.
Ask yourself - with the above information at your disposal, do you want anything to do with Binance ever again? I don't.
So, I implore you to act now and remove your Bitshares from their platform, before they act on your behalf.
TLDR
Withdraw your Bitshares from Binance ASAP or your BTS will cease to exist in your Binance account.
For those without a Bitshares account, register now:
https://bts.exchange/#/create-account/
Bitshares accounts are free to create, so don't wait, make one and secure your BTS!
If you're unsure whether or not you still hold BTS on Binance, check that you have not selected “Hide Small Balances” in your Binance wallets, otherwise the balance could be hidden.
Don't let Binance dismay your Bitshares experience, there's plenty of active development still ongoing, such as:
- Astro UI
- Beet wallet
- Beeteos wallet
- BTS ElysiaJS API
- Bitshares core wallet development
- New UI interfaces for new core developments
- New tools for creating, issuing and airdropping NFTs on the blockchain
Check out the awesome-bitshares repo for more links!
Updated the blocksights hyperlink, I had linked the wrong account 👎
Will Binance simply unload all the leftover bts on another exchange?
I believe so, yes.
So if you're wanting to purchase approx 400 million BTS... keep an eye out the next few days...