AMP delisted from Binance

AMP delisted from Binance

What's the news?

In a setback to the AMP token holders in an already down market. Binance has decided to delist AMP from its US exchange.

A brief about AMP

AMP is the native token of Flexa Network Inc. A New York based payment company using AMP as collateral. Full details -

Checking the facts

It all started with Coinbase insider trading scam & illegal listing of securities on the crypto exchange. Here's the news-

The SEC investigation

The SEC has identified at least 9 cryptocurrencies as securities and AMP is among the list. The list includes RLY, DDX, KROM, POWR & many more as securities.

Why Securities matter?

Securities are like stocks. It has to be listed after proper approval from governing authority. Listing on crypto friendly exchange is illegal without approval.

The Lawsuit in progress

Ripple XRP was the first currency targeted by SEC as security. The lawsuit is going on for two years, stagnating the price of XRP and losing the investor's interest.

What will happen next?

SEC investigation is underway. If Binance has decided to remove AMP from trading in the US then Coinbase will likely follow suit. AMP will be losing value & investors

Is AMP dead?

AMP will still work as collateral for the Flexa Network. However, its trading volume will take  a hit. Brace yourself for AMP winter. It may stay  for long.

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