MITH token plummets 20% as CZ responds to Mithril’s request for return of 200k BNB deposit MITH token plummets 20% as CZ responds to Mithril’s request for return of 200k BNB deposit
Mithril requests return of BNB deposit from Binance; CZ responds, cites confidentiality, and low MITH token price.
1 min read
Updated: Aug. 19, 2023 at 4:51 pm UTC
Web Summit / CC BY 2.0 / Flickr. Remixed by CryptoSlate
Mithril tweeted on Dec. 16, commenting on Binance’s announcement to delist MITH, and said that the MITH listing process required a 200,000 BNB deposit to Binance. Mithril said it has had “a long history of working with Binance since 2018,” donated to Binance Charity, and collaborated with other Binance initiatives.
The Mithril community requested that CEO at Binance, Changpeng Zhao (CZ), return the 200,000 BNB deposit so that Mithril can continue to operate.
CZ responded on Twitter and said he had reviewed the situation after seeing Mithril’s post. Within the response, CZ added an image of a clause in Mithril’s contract for “[Mithril’s] (and community) reference.
“We usually observe confidentiality, until you broke it. The insurance Deposit is there to encourage builders to continue to build.”
CZ said that the price of the MITH token was “way below the trigger levels,” and noted that both Mithril’s website was offline, and that Mithril hasn’t “tweeted or updated [their] community for almost 2 years.”
“I believe our team has made the right decision and acted fully within our right to do so.”
Mithril Market Data
At the time of press 4:51 pm UTC on Aug. 19, 2023, Mithril is ranked #1167 by market cap and the price is up 1.5% over the past 24 hours. Mithril has a market capitalization of $1.8 million with a 24-hour trading volume of $74.29 thousand. Learn more about Mithril ›
Crypto Market Summary
At the time of press 4:51 pm UTC on Aug. 19, 2023, the total crypto market is valued at at $1.06 trillion with a 24-hour volume of $30.9 billion. Bitcoin dominance is currently at 48.08%. Learn more about the crypto market ›
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Author 
Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.