Binance removes commission costs for potentially fraudulent meme tokens

The cryptocurrency exchange Binance has announced that users will no longer pay fees for trading with PEPE, FLOKI, and SUI memecoins paired with bitcoin and the Tether stablecoin (USDT). This applies to the Binance Convert service. The announcement of the innovation Binance.com/en/support/announcement/Binance-convert-adds-sui-floki-and-pepe-cc71b95cb0da4860a86d51c8fdcde81d«>was published on the official website of the exchange.

Binance Convert is a service of the leading crypto exchange that allows users to exchange one cryptocurrency for another without the need to conduct separate trading operations. Binance did not specify how long the commission-free service for meme coins will last.

The crypto exchange introduced the new functionality for PEPE, FLOKI, and SUI amid a drop in their prices. According to CoinMarketCap, PEPE fell by 13% over the day, and the asset is trading at $ 0.22. In turn, the FLOKI rate dropped by 3%, and the token is worth $ 0.37. Finally, SUI fell by more than 11% and at the time of writing costs $ 1.1.

Earlier, Binance CEO Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao said that before adding meme tokens to the listing, the exchange wants to see a steady increase in demand for them. However, only a day after the announcement, Binance added support for PEPE and FLOKI as part of the Innovation Zone. The news of the listing on the world’s main crypto exchange boosted PEPE’s price by 90%.

Earlier, Goplus found several suspicious features in the PEPE smart contract. As it became known, the developers of the meme cryptocurrency can blacklist an unlimited number of addresses, change the number of tokens available for trading, and limit the number of transactions with the asset. Interestingly, CoinMarketCap even added a note about the possible danger of the token, but later removed it.