Binance, the world’s leading cryptocurrency exchange, made a new announcement. The exchange cited its ongoing efforts to protect users and maintain a high-quality trading environment. As part of this, it announced plans to delist 14 trading pairs from its spot trading platform. Here are the details…
Binance made delist announcements
Binance announced its plans for this delisting in an official announcement published on September 27. He cited various factors such as poor liquidity and transaction volume as the main reasons behind the decision. The affected trading pairs and their respective delisting times are as follows:
Delist date: 29 September 2023 08:00 CEST
- ALICE/BUSD
- AVA/BUSD
- BICO/BUSD
- CLV/BUSD
- DEGO/BUSD
- GLM/BUSD
- KSM/BUSD
- WAXP/BUSD
They will be delisted on September 29, 2023 at 10:00 CET:
- XTZ/BUSD
- BNB/BIDR
- DOGE/BIDR
- LEFT/BIDR
- TKO/BIDR
- XRP/BIDR
Continue trading in other parities
While these trading pairs will no longer be available for spot trading on Binance, the exchange emphasized that the delisting will not affect the availability of the tokens on the Binance platform. Users who hold these tokens can continue to trade their underlying assets on other available trading pairs. In addition, the exchange announced the discontinuation of Spot Trading Bots services for the affected trading pairs. Users using trading bots for these pairs are strongly advised to update or cancel their bot activity before the stated termination times to avoid possible losses.
Warning for BUSD users
Binance warned investors about BUSD to further support users during this transition process. He specifically encouraged converting BUSD (Binance USD) holdings into other existing assets on the platform before February 2024. Users have the opportunity to convert their BUSD balance to FDUSD with zero transaction fees. There are also options to convert BUSD assets to FDUSD at a 1:1 ratio using the conversion portal. This announcement marks Binance’s effort to provide a safe and efficient trading environment for its global user base.
According to the exchange’s statements, they review trading pairs regularly. They also make adjustments for parities. Thus, they claim that their efforts are to maintain the quality and security of trading services. In general, the primary purpose of delisting trading pairs is to optimize the trading experience, reduce risks and ensure regulatory compliance. This is a proactive measure taken by exchanges to maintain the integrity and quality of their platforms while prioritizing the security and satisfaction of their users.
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