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- Upbit will end trading for STORJ, JASMY and TT on September 14.
- Withdrawal support will remain available until October 14.
- The exchange cited unresolved disclosure, business and token-circulation concerns.
South Korean crypto exchange Upbit will remove Storj (STORJ), JasmyCoin (JASMY) and ThunderCore (TT) from its supported markets in September after a follow-up review found that key concerns remained unresolved. The decision puts additional pressure on the three tokens as holders face a limited window to trade or withdraw their assets.
Upbit Sets September 14 Deadline
Upbit said trading support for STORJ, JASMY and TT will end on September 14 at 3:00 p.m. Korea Standard Time. The move affects six trading pairs: STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW and TT/BTC.
Once trading ends, outstanding orders will be canceled. Upbit will continue allowing withdrawals for 30 days, with withdrawal support scheduled to close on October 14. Holders who want to move their tokens will therefore need to transfer them to compatible wallets or other platforms that support the assets before the deadline.
The exchange also said it will no longer support services related to airdrops, wallet upgrades and hard forks following the delisting announcement.
Why Upbit Is Removing the Three Tokens
The decision follows investment-warning designations issued in late July. STORJ was placed under review on July 28, while JASMY and TT received warning classifications on July 31.
For STORJ and JASMY, Upbit pointed to shortcomings involving disclosures of information that could materially influence investors. The exchange also assessed the sustainability of each project’s business and whether meaningful improvements had been made.
ThunderCore faced different concerns. Upbit reviewed TT’s token issuance and circulation plans, as well as changes to the project’s business strategy and whether those changes had been handled transparently.
STORJ, JASMY and TT Prices React
The delisting announcement triggered declines across all three tokens. TT fell 6.62%, while JASMY dropped 5.25%. STORJ declined 1.98% after recovering part of its initial loss.
STORJ also faces separate pressure following Storj Labs’ Chapter 11 bankruptcy filing in July. The company said the restructuring was intended to address legacy liabilities while keeping its decentralized cloud-storage business operating. Upbit did not say the bankruptcy filing itself was the reason for the delisting.
JASMY remains the largest of the three by market value at roughly $195 million. STORJ is valued at about $19 million, while TT has experienced a steeper decline over the past month.
The September deadline gives investors time to decide whether to sell, transfer or otherwise manage their holdings. However, liquidity can become more limited as a major exchange removes trading support.
For STORJ, JASMY and TT holders, the key dates are September 14 for trading termination and October 14 for the end of withdrawals. The delistings also highlight the importance of exchange reviews, project disclosures and token-circulation policies in determining continued market access.
Also Read: Arthur Hayes Reenters ETHFI Hours Before Upbit Listing — Market Reacts Fast
Upbit’s decision to delist STORJ, JASMY and TT reflects unresolved concerns identified during its investment-warning reviews. While the exchange has provided a withdrawal window, the move adds another layer of uncertainty for the three projects and their token holders.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
