Binance Delists Top Bitcoin, Ethereum Pairs
Binance, the world’s largest crypto exchange, has announced plans to delist Bitcoin and Ethereum cross margin and isolated margin pairs from November 28.
This move is part of Binance’s efforts to address legal challenges in the digital assets industry. Isolated margin borrowing on these pairs will be suspended, followed by the closure of auto-settled user positions and the cancellation of pending orders on December 7.
This decision follows allegations by the U.S. SEC, which previously classified BUSD as a security. Both Paxos and Binance halted further minting and circulation of the stablecoin.
Changpeng Zhao, the founder of Binance, has stepped down from his role as part of a broader agreement with the U.S. Department of Justice to settle criminal charges against the exchange. Richard Teng has been named as the new CEO.
(With inputs from Shikha Singh)
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