In a recent announcement, Binance indicated that some liquidity pools will be removed from the platform on January 5, 2024. To improve the user trading experience, Binance Liquid Swap is currently conducting regular reviews of its listed liquidity pools.

This evaluation aims to simplify liquidity, reduce slippage, and offer more convenient transaction rates to users. Hence, the cryptocurrency exchange is set to remove liquidity pools related to Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB), and XRP.

List of liquidity pools that will be removed from Binance Liquid Swap according to the latest announcement. The following liquidity pools on Binance are scheduled to be removed on January 5, 2024, at 04:00 AM UTC:

  • ADA/BTC
  • BNB/USDT
  • BTC/USDT
  • DOGE/BTC
  • DOGE/USDT
  • ETH/USDT
  • LINK/BTC
  • SHIB/USDT
  • USDT/DAI
  • XRP/USDT

It is important to note that users with positions in these pools will receive their assets automatically deposited into their Spot wallets on January 5, 2024. 04:00 AM UTC. Furthermore, Binance noted that these liquidity pools will not affect trading of corresponding pairs on Binance Spot.

Users also have the option to redeem their assets from these pools before January 5, 2024. 04:00 AM UTC. If a person fails to recover his deposits before this date. They will be automatically redeemed based on the prevailing compounding ratios in users' Spot wallets. However, starting January 1, 2024, 04:00 AM UTC. Traders will not be able to add liquidity to the pools mentioned above.

Delisting of GBP Spot Trading Pairs As mentioned earlier, Binance recently announced the deletion of several GBP cryptocurrency trading pairs on Binance Spot. The deletion plan included important pairs such as Bitcoin (BTC). Ethereum (ETH), Solana (SOL), Binance Coin (BNB), XRP, Cardano (ADA), Polygon (MATIC), Chainlink (LINK), and Dogecoin (DOGE). And Litecoin (LTC). The deletion became effective December 29, 2023.

Earlier, in October 2023, the cryptocurrency trading platform stopped accepting new clients in the UK in order to comply with new Financial Conduct Authority (FCA) regulations. Which limits promotions from international digital asset companies in the country. Subsequently, users trading via GBP faced issues with withdrawals and deposits after the trading platform terminated its operating agreement with its UK banking partner. Hence, it had to remove spot trading pairs from the list to ease the challenges faced by its users.