Binance To Shut Multiple Leveraged Token Services
Crypto exchange Binance will cease support for certain leveraged tokens linked to Bitcoin, Ether, and BNB on April 3.
The affected tokens include BTCUP and BTCDOWN, ETHUP and ETHDOWN, and BNBUP and BNBDOWN. Trading and subscription services will be suspended on February 28 at 06:00 UTC.
Binance will automatically remove trade orders for these tokens, preventing users from placing any orders.
Users are urged to trade their held leveraged tokens into other assets before the deadline. The exchange will gradually delist and cease redemption of the tokens, starting on April 1 and continuing until April 3.
Users can redeem their tokens before the delisting date, but if they fail, they will be converted into USDT. Binance will distribute the tokens to users’ accounts within 24 hours and remove them from their wallets.
(With inputs from Shikha Singh)
You need to login in order to Like
