FTT, the native token of the now-defunct FTX exchange, is facing renewed pressure after topping Binance’s second-round “Vote to Delist” poll with 11.1% of community votes.
The vote, which ran from April 10 to April 16, 2025, is part of Binance’s broader governance initiative that allows users to weigh in on tokens tagged with a monitoring label. These tokens are considered to carry higher risk or volatility, prompting deeper internal review by the exchange. Although the poll result does not automatically trigger a delisting, it significantly influences the platform’s decision-making process.
Since the beginning of the year, FTT has shown a consistent downward trend. Its association with the November 2022 collapse of FTX continues to cast a shadow over investor confidence.
At the time of writing, FTT is trading at $0.80, down 4.1% over the past 24 hours. This latest decline echoes sentiment-driven sell-offs observed during the first round of voting.
Binance Expands Governance Tools
Binance’s “Vote to Delist” initiative aims to increase transparency and boost user involvement in platform governance. It focuses on assets that carry a monitoring tag, often due to liquidity concerns, regulatory risks, or significant price fluctuations.
Although community sentiment plays a key role, Binance has made it clear that delisting decisions are not based solely on voting outcomes.
“The poll result will not be the sole determining factor in the final delisting decision,” Binance stated on its Square platform.
The review process will also take internal metrics and compliance standards into account. Any final decision may be subject to delays due to procedural requirements.
FTT leads the poll among 17 tokens in this second round, signaling strong community inclination toward its removal and reinforcing market caution over its long-term viability.
Altcoins Face Price Drops and Delisting Risks
Other tokens also drew notable attention. Zcash (ZEC) and JasmyCoin (JASMY) each received 8.6% of the votes, reflecting growing user skepticism despite their past popularity.
They were closely followed by GoPlus Security (GPS) at 8.2% and PlayDapp (PDA) at 7.6%. Voxies (VOXEL), Alpaca Finance (ALPACA), and STP Network (STPT) also performed notably with 7.1%, 6.3%, and 5.9% of the votes, respectively.
Price data shows these tokens have already begun reacting to the poll results. Over the past 24 hours, JASMY and STPT each fell around 6%, with several other tokens also posting smaller losses.
For example, VOXEL, PDA, and ALPACA all displayed red candles, indicating that investor anxiety may extend beyond FTT.
Other tokens on the list include Flamingo Finance (FLM) at 4.3%, ARK at 5.8%, Biswap (BSW) at 5.5%, and MovieBloc (MBL) at 4.2%.
Wing Finance (WING) received a smaller share of votes at 3.8%, followed by Ardor (ARDR) at 3.6%, and Perpetual Protocol (PERP) at 3.4%. NKN and LTO Network closed the list with 3.2% and 2.9%, respectively.
Market Awaits Binance’s Decision on FTT
Although a final delisting decision from Binance is yet to be confirmed, the data suggests a clear community preference to distance the platform from tokens perceived as unstable or compromised.
Market participants are expected to closely monitor Binance’s review process, especially for tokens like FTT and JASMY, which continue to face regulatory and public scrutiny.
The exchange has not announced a specific timeline for delisting and has reiterated that internal review is still ongoing.
Nevertheless, the market impact is already visible, with affected tokens experiencing notable short-term price declines and volatile trading volumes.
As this round of voting concludes, Binance’s next move may set a precedent for how much community feedback will shape the platform’s future asset offerings.
Frequently Asked Questions
What is Binance’s “Vote to Delist” program?
Binance’s “Vote to Delist” is a governance feature that lets users vote on whether certain tokens with a monitoring tag should be considered for removal from the exchange. It is designed to increase transparency and user involvement.
Does winning the poll mean a token will be delisted?
No. While the poll results influence the decision, Binance also considers internal metrics, liquidity, regulatory compliance, and other risk factors before any final delisting action is taken.
Why is FTT receiving so many votes?
FTT is associated with the collapsed FTX exchange, which has led to ongoing concerns about its legitimacy, stability, and regulatory standing. These factors likely contributed to its high vote share.
How often does Binance run these voting events?
Binance has not specified a fixed schedule, but the program is part of its ongoing governance efforts. Users can expect periodic voting rounds based on market conditions and monitoring tag updates.
What should I do if I hold a token that may be delisted?
If you hold a token that is under review or has been voted on, it is advisable to monitor official Binance announcements closely. 👉 Explore more strategies for managing high-risk assets. Consider diversifying your portfolio to mitigate potential risks.
Can a delisted token be relisted in the future?
Yes, though it is uncommon. A token may be relisted if it addresses the issues that led to its removal, such as improving liquidity, regulatory compliance, or project transparency.