🚨🚨 Binance Margin and Binance Futures will be delisting BUSD in accordance with the following timelines. ‼️
•At 2023-12-01 06:00 (UTC), Binance Margin will suspend BUSD/USDT isolated margin borrowing.
•At 2023-12-11 09:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement and cancel all pending orders on the BUSD/USDT and TUSD/BUSD cross margin pairs, as well as the BUSD/USDT isolated margin pair. If users have any outstanding Cross Margin or Isolated Margin loans, both the delisted assets and any other assets held in their Cross and Isolated Margin accounts may be sold to repay the outstanding liabilities. These pairs will then be removed from Cross Margin and Isolated Margin.
•Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2023-12-11 09:00 (UTC). Binance Margin will not be responsible for any potential losses.
•Portfolio Margin users are advised to transfer the tokens mentioned above out of their Margin Wallet to their Spot Wallet and to top up their margin balance before 2023-12-11 09:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (Uni-MMR) closely to avoid any potential liquidation that may result from the removal of the tokens mentioned above from the Margin Wallet.
•All BUSD balances in Cross Margin Wallets under the Portfolio Margin account will be automatically converted to USDT from 2023-12-11 09:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds.
