Binance, a leading cryptocurrency exchange, has announced that it will remove several margin trading pairs starting November 27, 2024.
Details of the Changes
The changes will take effect on November 27, 2024, at 09:00 UTC and will impact both Cross Margin and Isolated Margin trading.
Affected Margin Trading Pairs
Cross Margin Pairs: - C98/BTC - IDEX/BTC
Isolated Margin Pairs: - C98/BTC - FIS/BTC - IDEX/BTC - MBOX/BTC - REN/BTC - PTT/BTC
Key Dates and Recommendations
Manual and Automatic Transfer Mode will be disabled for transferring assets related to affected pairs to Isolated Collateral accounts. Users with outstanding liabilities for these tokens may only transfer amounts up to their liabilities, minus their existing collateral. Isolated margin lending for the affected pairs will be suspended. Binance will close all open positions, perform auto-reconciliations, and cancel pending orders on the affected pairs. The pairs will then be completely removed from Margin trading. Binance advises users to close their positions and transfer their assets from Margin Wallets to Spot Wallets before the final delisting date to avoid potential losses. Following the delisting, users can continue to trade these assets using other available trading pairs on Binance Margin.
The removal of margin trading pairs on Binance reflects the platform’s efforts to optimize its offerings. Users are advised to stay informed and take timely action to mitigate potential risks.
