Phemex Flags 82 Tokens for Liquidity and Compliance Concerns

Phemex has placed 82 unique USDT spot pairs under Special Treatment due to liquidity and project compliance concerns. The restriction, which took effect on August 31 at 10:00 UTC, requires users to pass a mandatory Risk Cognizance Test before trading these pairs.

The affected assets include established tokens such as ETC, XTZ, SNX, YFI, NEXO, AXS, USDe, and TUSD. Phemex cited three reason categories for the Special Treatment: persistently low volume and insufficient liquidity, a project team's failure to provide valid operational updates, or missed critical whitepaper milestones without explanation.

The exchange has published Special Treatment rules, which include criteria such as bid-ask spread above 0.5% and average daily pair volume below 30,000 USDT for three consecutive months. Users must pass the Risk Cognizance Test to trade these pairs, and Phemex may remove the tag or delist a token if conditions improve or deteriorate.