Binance Updates ORDI Token Info After Mislabeling It as Ordinals Protocol’s Native Coin

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The cryptocurrency world is no stranger to confusion, especially when naming conventions blur the lines between protocols and tokens. Recently, Binance sparked controversy by initially misrepresenting ORDI as the native token of the Ordinals protocol—a claim quickly corrected after pushback from the project’s founder and community.

This incident not only highlights the importance of accurate digital asset labeling on major exchanges but also underscores growing interest in Bitcoin-based tokens, particularly those built on the BRC20 standard. Let's dive into what happened, why it matters, and how ORDI has emerged as a leading player in the evolving BRC20 ecosystem.

What Went Wrong with Binance’s ORDI Listing?

On November 7, Binance announced the listing of multiple ORDI trading pairs, including ORDI/BTC, ORDI/USDT, and ORDI/TRY. While the addition was welcomed by traders, a critical error in the announcement raised eyebrows: Binance referred to the token as “Ordinals (ORDI)” and linked its official website, whitepaper, and block explorer directly to the Ordinals protocol.

This mislabeling created a false impression that ORDI is an official or native token of the Ordinals ecosystem—an assumption that couldn’t be further from the truth.

ORDI is actually a meme coin developed under the BRC20 token standard, which leverages Bitcoin’s blockchain for token issuance through ordinal inscriptions. It is not affiliated with the creators or governance of the Ordinals protocol itself.

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Founder Steps In: Casey Rodarmor Corrects the Record

Casey Rodarmor, the creator of the Ordinals protocol, took to Twitter (now X) to clarify the misunderstanding:

"I hope this gets fixed soon. ORDI is not associated with the Ordinals project, The Open Ordinals Institute, or The Ordicord. Those links should be removed, and the token should not be named 'Ordinals'. The name of the token is ORDI."

Rodarmor’s intervention emphasized a crucial distinction: while ORDI exists because of the Ordinals protocol—which enables NFT-like inscriptions on satoshis—it does not represent official endorsement or integration.

Within hours, Binance responded by updating its original listing announcement. The revised version removed misleading links and adjusted the description to reflect that ORDI is a community-driven BRC20 token, not a core component of the Ordinals infrastructure.

This swift correction demonstrates both the influence of protocol founders in maintaining integrity and the responsibility centralized exchanges bear in ensuring accurate information dissemination.

Understanding ORDI and the Rise of BRC20 Tokens

So, what exactly is ORDI?

ORDI is one of the first and most prominent tokens issued under the BRC20 standard, a JSON-based framework that allows users to mint fungible tokens directly on the Bitcoin blockchain using ordinal theory. Unlike ERC-20 tokens on Ethereum, BRC20 tokens do not require smart contracts; instead, they rely on inscription data embedded within Bitcoin transactions.

Despite being a meme coin at inception, ORDI has gained traction due to:

According to CoinGecko, the broader BRC20 category saw significant momentum following Binance’s listing. ORDI surged over 148% in seven days, briefly reclaiming prices near $13—a level last seen during the height of the meme coin frenzy in May 2023. Though still below its all-time high of $19, the rally signals sustained market interest.

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Why Accurate Token Labeling Matters

Misidentifying a token like ORDI as an official protocol asset may seem like a minor clerical error—but its implications are far-reaching:

  1. Investor Confusion: Retail investors might assume institutional backing or technical integration where none exists.
  2. Reputation Risk: Protocols like Ordinals risk brand dilution if associated with speculative or unaffiliated projects.
  3. Regulatory Scrutiny: Inaccurate disclosures could attract attention from financial regulators concerned about transparency.

As more assets launch on Bitcoin via inscriptions, exchanges must implement stricter verification processes—especially when naming, linking official resources, or assigning tags like “seed” or “official.”

FAQ: Common Questions About ORDI and Ordinals

Q: Is ORDI the official token of the Ordinals protocol?
A: No. ORDI is a community-created meme coin built using the BRC20 standard on top of the Ordinals protocol. It has no official affiliation with the protocol’s development team or governing bodies.

Q: What is the difference between Ordinals and BRC20?
A: The Ordinals protocol enables users to inscribe data (like images or text) onto individual satoshis, creating NFT-like assets on Bitcoin. BRC20 is a token standard that uses these inscriptions to issue fungible tokens—similar to how ERC-20 works on Ethereum.

Q: Can I buy ORDI on major exchanges?
A: Yes. Following its listing, ORDI became available on Binance with several trading pairs, including USDT and BTC. Always verify ticker symbols and project details before trading.

Q: Does ORDI have utility beyond speculation?
A: Currently, ORDI functions primarily as a speculative asset. However, some developers are exploring ways to integrate BRC20 tokens into decentralized applications on Bitcoin layers.

Q: How can I store ORDI safely?
A: Since BRC20 tokens are inscribed on Bitcoin, they require wallets that support ordinal inscriptions—such as Xverse, Leather (formerly Leather Wallet), or Hiro Wallet. Standard Bitcoin wallets may not recognize them.

Q: Could there be an official native token for Ordinals in the future?
A: There are no public plans for an official token. The Ordinals protocol remains focused on decentralization and open access without introducing a governance or utility token—at least for now.

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The Road Ahead for Bitcoin-Based Tokens

The ORDI incident serves as a case study in how fast-moving crypto markets can amplify misinformation—and how quickly corrections can restore clarity when stakeholders act responsibly.

Looking forward, we’re likely to see increased innovation around Bitcoin-native tokens, driven by demand for censorship-resistant, decentralized finance solutions anchored in Bitcoin’s security model. Projects building on BRC20, SRC-20, and other inscription-based standards will need clear communication strategies to avoid confusion.

Meanwhile, exchanges like Binance play a pivotal role in shaping user understanding. Accurate labeling, verified sources, and transparent disclosures aren’t just best practices—they’re essential for trust in a space built on decentralization.

As investor interest grows, so too does the need for education. Whether you're trading meme coins or exploring new layers of Bitcoin functionality, staying informed is your best defense against volatility and misinformation.

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