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LeverFi Mints 13.7B New Tokens After Binance Delisting Announcement - Unchained
Decentralized leveraged trading and lending platform LeverFi has minted 13.7 billion new LEVER tokens, according to onchain data, but the team behind the protocol has yet to offer an explanation.
The quiet minting event has raised concerns within the crypto community, especially given its timing so close to a delisting decision from Binance. The major crypto exchange said it plans to delist LEVER on July 4.
This story is an excerpt from the Unchained Daily newsletter.
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Some of the newly minted tokens have already been moved to crypto exchanges Bybit and MEXC.
LEVER has dropped 14% over the last 24 hours and was trading at around $0.0003186 as of 7 pm ET on Sunday. The token is trading 94% below its all-time high of $0.0053 three years ago.