Binance’s “Vote to Delist” Campaign Flags FTX Token (FTT) as Top Candidate

April 17, 2025 – Binance, the world’s largest cryptocurrency exchange by trading volume, has concluded its second round of the community-driven “Vote to Delist” campaign. The results show FTX Token (FTT), the native token of the now-bankrupt FTX exchange, as the top candidate for delisting. FTT received 11.1% of the votes, signaling continued concern over its volatility and the aftermath of FTX’s collapse.

FTX Token Faces Increased Scrutiny

FTT’s performance and community votes reflect the ongoing challenges the token faces after the FTX collapse. The token has been under increased scrutiny due to its association with the defunct exchange, and it continues to experience volatility and price declines. These factors, coupled with its Monitoring Tag status on Binance, make it a prime candidate for delisting.

The voting period for the campaign ran from April 10, 2025, at 04:00 UTC to April 16, 2025, at 23:59 UTC, with the community casting votes on tokens flagged with a Monitoring Tag due to higher volatility or associated risks. Binance has emphasized that while community votes weigh heavily in the decision-making process, internal review criteria will ultimately determine whether tokens are delisted.

Other Tokens in the Vote

While FTT received the largest share of votes, other tokens also attracted strong support for delisting, reflecting growing community concerns over their performance. Among the top candidates:

• ARK (ARK) garnered 5.8% of the votes
• Biswap (BSW) received 5.5%
• MovieBloc (MBL) earned 4.2%
• Wing Finance (WING) gained 3.8%
• Ardor Platform (ARDR) attracted 3.6%
• Perpetual Protocol (PERP) secured 3.4%
• NKN (NKN) received 3.2%
• LTO Network (LTO) obtained 2.9%

Binance’s Commitment to Community Governance

The “Vote to Delist” and “Vote to List” initiatives are part of Binance’s broader effort to engage its community in platform governance. These programs allow users to actively participate in decisions regarding token listings and delistings. Binance’s approach emphasizes that community feedback is a valuable part of its decision-making process, though the final decisions will be based on the exchange’s comprehensive review of each token’s viability, security, and market behavior.

The Future of FTX Token and Binance’s Regulatory Approach

As the vote for FTX Token (FTT) highlights ongoing concerns over the aftermath of the FTX collapse, Binance’s action underscores the growing regulatory and community pressure on tokens associated with high volatility and market instability. The outcome of the current round of voting will likely influence the platform’s approach to other tokens in the future, especially as the cryptocurrency market continues to face regulatory scrutiny globally.

Binance’s efforts to involve users in governance reflect the increasing trend toward decentralized decision-making within the crypto ecosystem. The exchange’s community-driven governance model aims to balance user input with careful oversight to ensure a safe and secure trading environment.