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Binance Delists SHIB, LUNA, ADA Trading Pairs: Details

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Wed, 1/11/2023 - 15:04
Binance Delists SHIB, LUNA, ADA Trading Pairs: Details
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Binance Exchange has announced its plans to delist margin trading pairs associated with some of the biggest altcoins on the market. The announcement shared earlier showed that pairs linked to Shiba Inu (SHIB), Terra (LUNA) and Cardano (ADA), among others, would be removed for failing to meet its liquidity conditions.

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The actual pairs include ADA/BUSD, AGIX/BUSD, APE/BUSD, AVAX/BUSD, BAKE/BUSD, BCH/BUSD, DOGE/BUSD, DOT/BUSD, FIL/BUSD, FRONT/BUSD, GALA/BUSD, LINK/BUSD, LTC/BUSD, LUNA/BUSD, LUNC/BUSD, MATIC/BUSD, OP/BUSD, RUNE/BUSD, SHIB/BUSD, TRB/BUSD, USTC/BUSD, XLM/BUSD and YGG/BUSD. 

Per the exchange, support for cross-margin and isolated margin pairs will be removed on Nov. 9 by 6:00 a.m. UTC. As an advance notice to its users, the exchange said it will suspend isolated margin borrowing on these pairs on Nov. 3. Though users are advised to close all positions before the actual delisting on Nov. 9, Binance said it will automatically close all opened positions by this time.

The trading platform said users can still trade other pairs linked to these altcoins available on Binance margin.

Binance becoming more aggressive

In its bid to clean up its platform from nonperforming trading pairs, Binance has become quite aggressive with its delisting moves in the past few months. As reported earlier by U.Today, the trading behemoth parted ways with SHIB, ADA and LINK pairs on Oct. 20, with more than 25 altcoin pairs that it suspended support for, as announced earlier.

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SEC Flags Binance US Collateral Concerns

With Binance facing legal scrutiny in the United States, it is exercising caution about the risks it exposes its users to. Already, the Securities and Exchange Commission (SEC) has alleged that Binance is supporting the trading of unregistered crypto securities.

Though it has requested the court to squash the claims, erring on the side of caution remains its top agenda.

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