Upbit Flags Sophon for Review as Binance Removes Seven USDC Spot Pairs
South Korea’s largest cryptocurrency exchange, Upbit, has designated Sophon (SOPH) as a trading-warning asset and suspended deposits, citing concerns over disclosure, changes to the token-circulation plan and the transparency of related procedures.
According to Wu Blockchain, Upbit’s review could ultimately result in Sophon being delisted if the identified issues are not resolved. The exchange’s action places SOPH under additional scrutiny while its trading status is being assessed.
Upbit Reviews Sophon Trading Status
Upbit identified several areas of concern surrounding Sophon, including disclosure practices and changes to its token-circulation plan. The exchange also cited questions regarding the transparency of procedures associated with those matters.
As part of the warning designation, Upbit suspended deposits for SOPH. The review will determine whether the concerns can be addressed sufficiently for the token to retain its listing on the exchange.
The potential outcome includes delisting if the issues remain unresolved, according to the information shared by Wu Blockchain. No specific delisting decision was stated in the source post.
The action illustrates the distinction between a trading-warning designation and an immediate delisting. Sophon has been placed under review, with its future status dependent on the resolution of the concerns identified by Upbit.
Binance to Remove Seven USDC Pairs
Separately, Binance plans to remove seven USDC spot trading pairs on September 25. The affected pairs are AIXBT/USDC, DOLO/USDC, ENJ/USDC, HUMA/USDC, SXT/USDC, TNSR/USDC and TURTLE/USDC.
Wu Blockchain reported that Binance cited liquidity and trading-volume considerations for the decision.
The removal applies specifically to the seven USDC spot pairs rather than the underlying tokens themselves. The affected assets will remain listed on Binance through other trading pairs, according to the announcement.
The distinction means the delisting of the individual USDC markets does not constitute a full removal of AIXBT, DOLO, ENJ, HUMA, SXT, TNSR or TURTLE from Binance.
Two Separate Exchange Actions
The developments involve different types of exchange decisions. Upbit’s action places Sophon under a trading-warning review and includes a suspension of deposits, with the possibility of delisting if the concerns are not resolved.
Binance’s decision, by contrast, concerns the removal of seven specific USDC spot markets based on liquidity and trading-volume considerations, while maintaining the underlying tokens through other available pairs.
For Binance, the scheduled date for removing the seven USDC pairs is September 25. For Sophon, the next step depends on the outcome of Upbit’s review.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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