As a long-term crypto investor with experience trading on Binance, I’m keeping a close eye on their recent announcement regarding the delisting of several Bitcoin (BTC) and Tether (USDT) margin pairs involving TrueUSD (TUSD). This decision comes as a surprise, especially since Binance has been quite active in both listing and delisting cryptocurrencies lately.
Starting July 24, 2024, Binance, a significant figure in the digital asset trading scene, intends to eliminate certain Bitcoin (BTC) and Tether (USDT) margin pairings involving TrueUSD (TUSD). This development primarily influences users dealing with these specific pairs. Traders are advised to reconsider their strategies and positions before the modification takes effect.
Details of the TUSD Pairs Delisting Process
Starting on July 24, 2024 at 06:00 UTC, Binance, a renowned global cryptocurrency exchange, intends to remove certain Bitcoin (BTC) and Tether (USDT) margin pairings involving TrueUSD (TUSD). This decision, disclosed on July 11, 2024, will influence both Cross and Isolated Margin trading.
Starting on July 12, 2024, Binance will no longer allow isolated margin borrowing for the BTC/TUSD and TUSD/USDT pairs. On July 24, 2024, the exchange will close all open positions, settle automatically, cancel any outstanding orders, and ultimately remove these pairs from its Margin trading section.
Users on Binance are urged by the platform to take preventative actions before July 24. Traders are recommended to wind up their open positions or move their assets from Margin Wallets to Spot Wallets to minimize potential losses. Binance makes it clear that they will not bear responsibility for any financial losses arising from this upcoming change.
Starting July 24, users of Portfolio Margin with TUSD balances in Cross Margin Wallets will undergo an automatic conversion of their balances into USDT. This conversion process may take up to 24 hours or more, which could potentially impact new positions being opened during this timeframe.
Recent Listing and Delisting Occurrences
Recently, Binance has been actively involved in adding and removing cryptocurrencies from its platform. Notably, the exchange has expressed support for four emerging digital assets: Artificial Superintelligence Alliance (FET), FLOKI, Notcoin (NOT), and LayerZero (ZRO). This decision has sparked interest among investors who are evaluating the possible consequences. Additionally, Binance facilitated the merger of the ASI token between Fetch AI (FET), Ocean (OCEAN), and Agix, adding more fuel to market conjecture.
Binance intends to remove all trading pairs for BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) from its spot market by July 22, 2024. This surprise action has generated apprehension in the crypto sphere, with investors and traders pondering over potential repercussions for these digital currencies.
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2024-07-11 11:45