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SALT Interim President and CEO Bill Sinclair has released a Medium post explaining the recent delisting of the SALT token from Binance exchange.
Last week Binance announced the delisting of several crypto projects including SALT. The news came as a surprise to several crypto projects with Substratum (SUB) being the first to reach out to Binance for an explanation.
Read More: Binance purges five more projects from exchange including WINGS and SALT
#Binance Will Delist CLOAK, MOD, SALT, SUB and WINGShttps://t.co/eTAqN4g5dU pic.twitter.com/Am4oXmUJE3
— Binance (@binance) February 15, 2019
Binance have a set of rules related to why they remove tokens from their exchange, SUB had recently announced that they would be day trading their ICO funds in order to recover lost capital during the bear market. This was hinted by Binance as the reason for being delisted.
Read More: Substratum CIO asks clarification, CZ hints the day-trading of ICO funds
Sinclair's medium post related to why Binance delisted the token, explains that Binances decision was not fair, stating "Binance has not requested any information from SALT to enable Binance to make a decision relating to its now publicly listed criteria and acted irresponsibly in insinuating that any of the criteria is true of SALT."
Sinclair goes on to explain that SALT is a legitimate organisation with over "70 passionate, dedicated employees and professionals around the globe".
The medium post also explains SALT's operations, methodologies, and public marketing activities at events such as the Asia Blockchain Week.
Sinclair concludes that SALT does not define success by being listed on a certain number of exchanges but rather by shaping the crypto economy, concluding "We will continue to work tirelessly to deliver outstanding products and services, and will not be moved off that mark by anyone, for any reason."
According to the Medium post, it appears Binance may have delisted the project without any real reason at all. Perhaps in the future, Binance can specify a reason for delisting of each project in the future.
"At SALT, we define success not by the number of exchanges on which we are listed, but by our efforts to help shape this new economy." CEO of SALT Bill Sinclair responds to the @binance delisting. https://t.co/ybx9FUIpB2 pic.twitter.com/ICsOYYBUy9
— SALT (@SALTLending) February 16, 2019