According to recent announcements made by Binance as of October 18, 2023, the organization is planning to remove multiple trading pairs, sparking speculation among cryptocurrency market enthusiasts. In its latest announcement, Binance said it will remove pairs such as TRX/BUSD, ATOM/BUSD, HBAR/BUSD, LDO/BUSD, and LEVER/BUSD. Among other pairs, crossed margin and isolated margin pairs on October 26, 2023, at 06:00 UTC.
Binance begins halting margin trading, Binance, the world's largest cryptocurrency exchange, said. The Company is fully prepared to suspend isolated margin borrowing for the above pairs effective 20 October 2023 at 06:00 (UTC).
Furthermore, Binance Margin announced. It is a platform that enables users to borrow money and helps them engage in margin trading. It will close all user positions and perform automatic settlement while canceling all pending orders on crossed and isolated margin pairs. In addition, the above pairs will be removed from margin as of 26 October 2023 at 06:00 (UTC). However, users can still trade forked assets on other trading pairs available on Binance Margin.
The company has notified its users not to update their positions during the delisting process. Instead, it strongly advised its users to close their positions and/or move their assets from margin wallets to spot wallets before margin trading ceased on October 26, 2023; 06:00 (UTC).
Binance stops operations revolving around BUSD Binance's decision to halt all operations revolving around certain margin trading pairs comes in line with the recent announcement of the company's decision to end support for BUSD. It is a stablecoin backed by fiat currencies issued by Binance and Paxos. The decision to end support for BUSD arose from the increasing regulatory challenges emerging in several countries. The main objective behind the move to end support for BUSD was to reduce regulatory risks and protect its users and partners to ensure the company's operations run uninterrupted.
And earlier this year. Binance also delisted Litecoin (LTC), Dogecoin (DOGE), LTCBUSD, and DOGEBUSD. Perhaps due to the fall of BUSD, users were notified of orders similar to the current ones.
