Binance, a major player in the digital asset exchange market, has revealed plans to remove several important Bitcoin (BTC) and Tether (USDT) margin pairs from its platform. This decision mainly affects pairs involving TrueUSD (TUSD). The change is scheduled to take place on July 24, 2024, giving users a limited timeframe to adjust their trading strategies and positions.
Details of the TUSD Pairs Delisting Process
Binance, one of the world’s leading cryptocurrency exchanges, has announced plans to delist key Bitcoin (BTC) and Tether (USDT) margin pairs involving TrueUSD (TUSD). The change, set to take effect on July 24, 2024 at 06:00 (UTC), was announced on July 11, 2024, and will impact both Cross and Isolated Margin trading.
The affected pairs include BTC/TUSD and TUSD/USDT for both margin types. Binance has outlined a clear timeline for the delisting process, beginning with the suspension of isolated margin borrowing for these pairs on July 12, 2024. On July 24, 2024, the exchange will close user positions, conduct automatic settlements, and cancel all pending orders before removing the pairs from Margin trading entirely.
Binance is strongly advising users to take proactive measures before the July 24 deadline. Traders are encouraged to close their positions or transfer assets from Margin Wallets to Spot Wallets to mitigate potential losses. The exchange has emphasized that it will not be held responsible for any losses resulting from this change.
Portfolio Margin users face additional considerations, as all TUSD balances in Cross Margin Wallets under Portfolio Margin accounts will be automatically converted to USDT starting July 24. This conversion process may take 24 hours or longer, potentially affecting new positions during this period.
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Recent Listing and Delisting Occurrences
Binance has been active in both listing and delisting cryptocurrencies recently. The exchange announced support for four trending cryptocurrencies, Artificial Superintelligence Alliance (FET), FLOKI, Notcoin (NOT), and LayerZero (ZRO). This move has garnered attention from market participants who are assessing its potential impact. The exchange also supported the ASI token merger involving Fetch AI (FET), OCEAN, and AGIX, further fueling market speculation.
Additionally, Binance plans to delist all spot trading pairs for BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) by July 22, 2024. This unexpected decision has caused uncertainty in the crypto market, leaving investors and traders speculating about the implications for these cryptocurrencies.
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The post Binance To Delist Key BTC And USDT Margin Pairs appeared first on CoinGape.
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