Binance Faces Criticism Over Potential Delisting of Zcash
The cryptocurrency exchange Binance has faced criticism and scrutiny from the community this week for including the privacy coin Zcash (ZEC) on its list of cryptocurrencies that may be subject to delisting votes.
According to information released by Binance, the new round of delisting candidates includes not only the $500 million market capitalization Zcash but also the bankrupt exchange FTX’s platform token FTT and the once-popular Taiwanese DeFi project PERP.
In response to being included in the delisting vote, Zcash founder Zooko Wilcox remarked on X, tagging Binance CEO Richard Teng: “Are you seriously considering delisting Zcash!? What kind of world do you want to create? Do you want your children to grow up in peace and prosperity or in a dystopia like in Black Mirror?”
Barry Silbert, founder of the Digital Currency Group, also shared several posts expressing regret over Binance’s decision to include Zcash on the delisting list. Similarly, Ledger’s Chief Technology Officer Charles Guillemet and Cosmos co-founder Ethan Buchman echoed these sentiments, emphasizing the importance of privacy.
However, from Binance’s perspective, privacy coins have long been a focal point of discussion among financial regulators. As early as 2022, a leaked EU document suggested a comprehensive ban on privacy coins. Many community members have stated that the argument for not delisting Zcash simply because it “supports privacy” seems emotionally manipulative, considering that Zcash is not the only project developing privacy solutions.
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