In a recent announcement, Binance, the world's largest cryptocurrency exchange, disclosed its decision to delist 23 margin trading pairs, effective November 9. Notable pairs on the delisting roster include ADA/BUSD and the popular memecoins DOGE/BUSD (Dogecoin) and SHIB/BUSD (Shiba Inu). The move entails the automatic closure and settlement of positions for these pairs, reflecting Binance's commitment to maintaining a secure and quality trading environment for its users.
These delisted pairs all share a common denominator – they are denominated in BUSD, a stablecoin that Binance is set to end support for early in 2024. Consequently, Binance is urging users to convert their BUSD holdings to other assets before February 2024.
This move follows a prior delisting of several BUSD pairs in October. Binance cited its mission to safeguard users and uphold high-quality trading markets, emphasizing the significance of factors like liquidity and trading volume in this decision.
Notably, this delisting has an impact on some of the most well-known memecoins, Dogecoin and Shiba Inu. The DOGE/BUSD and SHIB/BUSD pairs are part of the removal, highlighting Binance's dedication to streamlining its offerings for the benefit of its user base.
Binance Margin will execute the closure of users' positions, conduct automatic settlements, and cancel all pending orders for the aforementioned cross and isolated margin pairs. These pairs will subsequently be removed from Margin. Nevertheless, users will retain the ability to trade the assets in question through other trading pairs available on Binance Margin.
This proactive approach is consistent with Binance's commitment to ensuring a secure and efficient trading ecosystem while adhering to evolving market dynamics and user needs. It is worth noting that Binance has consistently demonstrated its commitment to user safety and quality trading experiences, as highlighted by the recent delistings.
As Binance continues to fine-tune its offerings and align with user interests, the delisting of these margin trading pairs marks another step in the exchange's ongoing mission to foster a thriving and secure cryptocurrency trading environment.