Binance To Delist New ADA, MATIC Trading Pairs
The largest cryptocurrency exchange in the world, Binance, has announced that it will stop supporting some Cardano (ADA) and Polygon (MATIC) peers.
The delisting of the impacted trading pairs, which include the Leverage and Margin Tiers of USDM ADABUSD and MATICBUSD Perpetual Contract, follows the discontinuation of this support.
The brokerage business warned its customers to close their positions by August 17 at 9:00 a.m. UTC, although Binance exchange did not specify why it intended to stop supporting these trading pairs.
Binance plans to conduct an automatic settlement on the due date, with selected pairs delisted afterward. The US Securities and Exchange Commission (SEC) has tagged digital currencies Cardano and Polygon as investment contracts, raising uncertainty about their future. Binance typically serves no U.S. customers, but staying off the regulator’s radar and compounding its ongoing lawsuit could be a good strategy. The leverage and margin tiers of ADABUSD and MATICBUSD perpetual contracts are risky, and BUSD has also been placed on the SEC’s securities tag radar. Delisting the pairs seems to be the right move.
(With inputs from Shikha Singh)
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