Binance Decides to Stop Supporting Six Leveraged Crypto Asset Pairs

Binance, the world’s biggest cryptocurrency exchange, made a significant announcement regarding the suspension and subsequent delisting of leveraged trading pairs. The affected pairs include BNBUP/USDT, BNBDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BTCUP/USDT, and BTCDOWN/USDT.

All existing trading orders connected to these pairs will be automatically cancelled on February 28, 2024, at 06:00 (UTC). No new orders will be permitted.

Following the cessation of operations, Binance will proceed with the delisting process and promises to reimburse the value of these digital assets according to a specific schedule. Trading for the BNBUP/USDT pair will cease on February 28, while the delisting and asset repurchase will conclude on April 1. On April 2, the delisting and final redemption will occur for the BNBDOWN/USDT and ETHUP/USDT pairs. As for ETHDOWN/USDT, BTCUP/USDT, and BTCDOWN/USDT, the delisting process and the end of the redemption period are set for April 3.

Binance advises users to exchange their leveraged assets for alternative tokens prior to the trading halt. Unfortunately, the reason for removing leveraged tokens from the Binance platform is not disclosed.

Earlier in February, Binance disclosed the delisting of four altcoins and their respective trading pairs, which encompassed ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, and XMR/USDT.