BETA, BOND, WTC, and XEM Added to Binance’s Monitoring Tag List

Binance has expanded its Monitoring Tag list to include Beta Finance (BETA), BarnBridge (BOND), Waltonchain (WTC), and NEM (XEM) as of October 4, 2023, according to Binance official blog. The Monitoring Tag serves as a risk indicator for tokens with elevated volatility and risk. 

The Monitoring Tag is a feature on Binance that flags tokens with higher volatility and risk compared to other listed assets. Binance performs regular reviews of these tagged tokens based on a comprehensive set of criteria. These criteria include the team’s commitment to the project, the level and quality of development activity, trading volume and liquidity, and the stability and safety of the network from attacks, among others. Tokens that consistently fail to meet these criteria are at risk of being delisted from the platform.

To trade these tagged tokens, Binance mandates that users pass quizzes every 90 days on its Spot and Margin trading platforms. These quizzes aim to ensure that traders are fully aware of the risks involved in trading such volatile assets. Additionally, a risk warning banner is displayed on the trading pages for these tokens, serving as an extra layer of caution for traders.

Binance’s decision to extend its Monitoring Tag to these four tokens is part of a broader industry trend towards increased scrutiny and risk management. On September 6, 2023, Coinbase announced that it would suspend trading for BarnBridge (BOND) and other tokens. Similarly, OKX revealed plans to delist several trading pairs, including XEM, that did not meet its listing criteria on September 21, 25, and 26.

Binance has committed to conducting periodic reviews to reassess the Monitoring Tag status of tokens. This is part of the exchange’s broader strategy to foster a transparent and sustainable cryptocurrency ecosystem. The Monitoring Tag serves as a tool for both the exchange and its users to manage risk effectively, and its extension to include more tokens is indicative of a maturing market that is increasingly focused on risk management and compliance.

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Coinbase Suspends Trading for $MULTI, $VGX, $OOKI, DDX, JUP, BOND

Key takeaways

* Coinbase suspends trading for BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX).

* The decision was based on “recent reviews” to ensure the assets meet Coinbase’s listing standards.

* Users can still access and withdraw their funds in the suspended assets.

Coinbase, one of the world’s largest cryptocurrency exchanges, announced the suspension of trading for six cryptocurrencies: BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). The suspension took effect on September 6, 2023, at approximately 9 AM PT, according to a statement released by the company.

Regulatory Compliance and Listing Standards

Coinbase stated that the decision was made after “regularly monitor[ing] the assets on our exchange to ensure they meet our listing standards.” The company did not elaborate on the specific reasons for the suspensions but emphasized that it was part of their ongoing compliance efforts. The announcement received 8,862 views, 8 reposts, 4 quotes, 25 likes, and 1 bookmark within hours of being posted.

User Impact and Next Steps

For users holding any of the six affected cryptocurrencies, Coinbase assured that “your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.” The company directed users with further questions to their help center at

Market Response

The delisting of these coins are announced on 24 August. Typically, the delisting of a coin from a major cryptocurrency exchange triggers a downtrend for that asset. For instance, Multichain (MULTI) experienced a significant surge on September 4, spiking over 115% to reach a high of $2.447. However, before its suspension from Coinbase, the coin has retraced to $1.286.

Similarly, Ooki (OOKI) saw a 2.5% increase with a price amplitude of 19%, reaching $0.002282 on September 4. Before the delisting, it has declined to $0.00189.

Given these market responses, it’s crucial for investors to monitor coins that are slated for delisting and consider selling off their holdings when prices pump prior to the suspension.

Implications for the Cryptocurrency Industry

The suspension of these six assets highlights the ongoing challenges that cryptocurrency exchanges face in balancing regulatory compliance with a diverse asset offering. It also raises questions about the criteria used by exchanges like Coinbase to evaluate the cryptocurrencies they list.


Coinbase’s decision to suspend trading for six cryptocurrencies underscores the exchange’s focus on regulatory compliance. While the immediate market impact remains to be seen, the move serves as a reminder of the evolving landscape of cryptocurrency regulations and the importance of due diligence for both exchanges and investors.

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El Salvador to Elevate Bitcoin Status by Issuing Bonds

El Salvador is planning to issue its first bitcoin bond next month, the Central American country’s Finance Minister Alejandro Zelaya announced. - 2022-02-10T152624.709.jpg

Zelaya elaborated that El Salvador is working to have the bond “totally ready” for issuance between March 15 and March 20 as a means to strengthen the country’s economy.

“If we really want to build this country, we have to invest in it like this,” Zelaya said speaking at a local news program.

Furthermore, Zelaya said that the government is still planning to issue $1 billion for the first bond, as previously mentioned on November 20. However, Zelaya also mentioned that there are chances of oversubscription for the bond by about $500 million minimum.

Buyers are expected to have easier access to the bond than traditional ones. It will allow a minimum purchase of $100 and does not require a stockbroker to conduct the transactions. 

The bond will be issued on Blockstream’s Liquid Network sidechain and they “will comply with all the regulations of the financial markets,” such as know-your-customer (KYC) and due diligence practices.

The bitcoin bond idea was first introduced at an event on November 20, by El Salvador’s president Nayib Bukele and Blockstream chief strategy officer Samson Mow.

Fitch downgrades El Salvador into “Junk” level

However, Fitch Ratings – a top American credit rating agency – has downgraded El Salvador’s Long-Term Foreign-Currency Issuer Default Ratings (IDR) to ‘CCC’ from ‘B-‘, citing risks from its adoption of Bitcoin as legal tender last year, according to Bloomberg. 

In a report, Fitch Ratings stated that the downgrade shows the country’s critical increase in financing risks that have risen from increased reliance on short-term debt.

“weakening of institutions and concentration of power in the presidency has increased policy unpredictability, and the adoption of bitcoin as legal tender has added uncertainty about the potential for an International Monetary Fund (IMF) program that would unlock financing for 2022-2023.”

Although crypto enthusiasts have been keen on bitcoin bonds, several financial experts have argued on the fact that whether they are a good investment.

The IMF recently noted that some of its directors “expressed concern over the risks associated with issuing Bitcoin-backed bonds.”

According to January 26, 2022, a report by Blokchain.News, the IMF expressed concern about risks related to El Salvador’s issuance of bitcoin-backed bonds. It urged El Salvador to terminate bitcoin as legal tender as soon as possible due to the high price volatility of the digital currency being a major risk.

El Salvador became the first country to adopt bitcoin as legal tender since June 2021, with 62 votes approval out of 84 through its parliament. In September, Bitcoin officially was circulated in this country as legal tender.

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El Salvador’s dollar debt dives on Bitcoin bond plans

El Salvador’s dollar-denominated bonds have fallen to an all-time low as the Central American nation’s debt started trading in “distressed territory” this week. 

El Salvador’s USD bonds fell to 64.4 cents to the dollar on Monday, Nov. 22, following the weekend news that the Central American country would use Bitcoin (BTC) bonds to fund its Bitcoin City initiative. Dollar bonds have fallen steadily since April 2021 when they topped $1.10 according to Bloomberg data.

A dollar-denominated bond is a bond issued outside of the United States by a foreign company or government, that is denominated in USD instead of their local currency.

Monday’s drop resulted in the country’s debt becoming among the worst performers in global trading, Bloomberg reported. Investors are concerned that President Nayib Bukele has shut out the IMF from assisting the nation with development funds.

Managing Director of investment banking company Stifel Nicolaus, Nathalie Marshik, commented that “this announcement cements the ‘anything-but-the-IMF’ path,” before adding that bonds are falling “as the market reassesses possible recovery value lower on the unpredictability of policies.”

The Bitcoin bond will pay 6.5% annual interest in addition to 50% of El Salvador’s Bitcoin gains once its initial investment costs for its mining infrastructure have been recovered. Dividends will be paid in USD or Tether (USDT), according to Samson Mow, Blockstream’s Chief Strategy Officer.

Mow believes that the Bitcoin bond will be an alternative way for institutional investors to gain exposure to Bitcoin without having to hold Bitcoin themselves. It will also be a way for investors to help El Salvador develop more rapidly. Mow, who has been working with the El Salvador government on developing the Bitcoin bond, told Bloomberg TV on Nov. 23,

“We’re trying to structure this in a way that people can present [the Bitcoin bond] to boards and directors as a normal bond because it is a normal bond. It just happens to have a large chunk of Bitcoin tied in.”

In response to Mow’s interview with Bloomberg, Podcaster and popular Bitcoin advocate Anthony Pompliano predicted that they will be “ridiculously oversubscribed.”

El Salvador has been in talks with the International Monetary Fund (IMF) for much of 2021 over a possible $1.3 billion loan. Those talks could be fading into obscurity as President Bukele has decided to fund more local initiatives, such as school building, with Bitcoin over USD. 

Related: El Salvador to build 20 ‘Bitcoin Schools’ with surplus from Bitcoin Trust

The IMF issued a concluding statement regarding El Salvador’s funding request on Nov. 22. Although El Salvador’s economy has rebounded quickly from the pandemic, fiscal deficits and high public debt services are creating bigger holes in the services the country can provide, it stated. 

The report added that efforts to improve financial inclusion and raise growth are welcome, “but risks arising from Bitcoin as a legal tender, the new payments ecosystem, and trading in Bitcoin should be addressed.”

“Because of those risks, Bitcoin should not be used as a legal tender. Staff recommends narrowing the scope of the Bitcoin law and urges strengthening the regulation and supervision of the new payment ecosystem.”