Binance To Delist Crypto Margin Pairs
Binance announced plans to delist multiple trading pairs, including TRX/BUSD, ATOM/BUSD, HBAR/BUSD, LDO/BUSD, and LEVER/BUSD, on October 26, 2023, at 06:00 UTC, sparking speculation among crypto market enthusiasts. The announcements have sparked interest in the cryptocurrency market.
Binance, is set to suspend isolated margin borrowing of certain pairs from October 20, 2023, at 06:00 UTC. The platform, Binance Margin, will close all users’ positions and conduct an automatic settlement, canceling all pending orders on the aforestated cross and isolated margin pairs. The pairs will be removed from the Margin by October 26, 2023, at 06:00 UTC. Users can still trade the aforestated assets on other trading pairs on Binance Margin. Binance advises users not to update their positions during the delisting process and to close their positions or transfer assets to Spot Wallets before the cessation of margin trading.
Binance has halted operations related to margin trading pairs, following its decision to end support for BUSD, a fiat-backed stablecoin issued by Binance and Paxos. The move was prompted by regulatory challenges in multiple countries. The main goal was to minimize risks and ensure smooth operations for users and partners.
(With inputs from Shikha Singh)
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