**Market Maker Sanctions for GPS and SHELL Due to Regulatory Violations (2025-03-09)**
*Please note: The products and services mentioned in this announcement may not be accessible in your region.*
**Dear Binance Community,**
Following a comprehensive investigation into the activities of a market maker associated with GoPlus Security (GPS), it has come to our attention that the same market maker was also engaged with the MyShell (SHELL) project.
In light of identified irregularities and to safeguard the interests of our users, Binance has implemented the following measures:
1. **Termination of Market Maker Activities**: The implicated market maker has been permanently removed from the Binance platform and is prohibited from engaging in any future market-making activities.
2. **Confiscation of Proceeds**: Funds obtained by the market maker through misconduct have been seized. These funds will be allocated to compensate affected users of GPS and SHELL. Further details regarding the compensation process will be provided by the respective project teams at a later date.
**Reminder to All Market Makers**:
All market makers authorized by projects on Binance are required to adhere to the following principles and guidelines:
- Submit both buy and sell orders to maintain market balance.
- Ensure adequate order size within designated depth levels to support liquidity.
- Maintain a stable and reasonable spread to promote healthy market activity.
- Avoid excessive order cancellations or high-frequency trading practices that could disrupt market stability.
We remain committed to fostering a transparent and sustainable cryptocurrency ecosystem. Your continued support is invaluable as we work toward this shared vision.
#shellprice #GPSCrypto Thank you for your trust and cooperation.
**Best regards,**
**The Binance Team**
*2025-03-09*
#shell