This is a routine announcement, and the products and services mentioned may not be applicable in your region.
Dear users:
In an investigation of a market maker for GoPlus Security (GPS), we found that this market maker is also responsible for the market-making activities of the MyShell (SHELL) project.
In order to better protect Binance users, we have taken the following additional measures against the misconduct of this market maker:
The market maker has been delisted and is prohibited from conducting any further market-making activities on Binance.
The relevant earnings of the market maker have been confiscated and will be used to compensate users of the GPS and SHELL projects (the details of the compensation plan will be determined and announced by the relevant project teams).
We remind all authorized market makers of projects on Binance to strictly adhere to the following principles and rules:
Ensure that both buy and sell orders have order support.
Ensure that there is sufficient order size within the specified depth level.
Provide healthy and stable market depth in the trading market.
Ensure that orders are retained for a certain period of time to avoid high-frequency order submission and cancellation disrupting the market.
Any authorized market maker from a project that does not comply with or violates these principles and rules will face further actions from Binance to better protect our users.
Thank you for your long-standing support and affection for Binance; we will continue to build a blockchain ecosystem in an open, transparent, and sustainable manner.
Thank you for your support of Binance!
Binance Team
March 9, 2025