Monero (XMR), a premier decentralized privacy token, has reasserted its dedication to privacy following Binance’s announcement of its impending delisting from the exchange platform. Privacy without consent is not privacy at all, declares Monero.
Established in April 2014, Monero stands out as a privacy-centric crypto, leveraging advanced technologies like ring signatures and stealth addresses to ensure user anonymity. Its blockchain is deliberately designed to obscure transaction details, shielding the identities of senders and recipients as well as transaction amounts.
Monero will never compromise on privacy.
You can trade Monero on other exchanges, on DEXs, and with atomic swaps. Please self-custody your XMR. https://t.co/Uba3GwZMRW
— Monero (XMR) (@monero) February 6, 2024
However, this commitment to privacy has drawn scrutiny from regulators and exchanges alike. Governments such as Dubai have banned Monero, while major exchanges like Coinbase and OKX have delisted it due to concerns over potential misuse.
Binance’s decision to delist Monero, along with several other tokens, on February 20, 2024, triggered an immediate 19% drop in its price to $136. The exchange cited various factors, including a token’s contribution to a healthy crypto ecosystem and responsiveness to due diligence requests, as reasons for the delisting.
Privacy is not a crime
— Kraken Exchange (@krakenfx) February 6, 2024
In response, Monero reaffirmed its stance on privacy via social media, vowing never to compromise on this principle. Despite the setback, the cryptocurrency continues to emphasize its role as a leading privacy coin, offering users an alternative in a market increasingly focused on transparency. As Monero charts its path forward, its commitment to privacy remains unwavering, reflecting its enduring value proposition amidst market turbulence.
