As the effects of FTX’s collapse continue, cryptocurrency exchange Binance will delist three Serum (SRM) trading pairs, the company announced on Friday. On November 28, the exchange will stop trading the SRM/BNB, SRM/BTC, and SRM/USDT trading pairs.
Serum is a decentralized exchange protocol based in Solana that FTX has supported since its beginning. The now-defunct exchange used to give traders SRM tokens via a weekly airdrop.
Concerns regarding the project’s viability were raised on November 14 when the Solana Foundation disclosed that it controlled 134.54 million SRM on FTX.
The token then increased by almost 250% after the community split the project the next day to defend itself against a hack that occurred on FTX.
Despite the currency still being listed on Kraken, Kucoin, and Gate.io. Binance sees the majority of SRM trading volume.
SRM had been down 7.5% in the previous day’s trade to $0.2704 as of the time of publication.
