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Binance to Delist Crypto AI Spot Trading Pairs, Here's Reason

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Thu, 20/06/2024 - 14:45
Binance to Delist Crypto AI Spot Trading Pairs, Here's Reason
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Binance, one of the world's leading digital asset exchanges, has announced the delisting of AI crypto spot trading pairs specifically for AI tokens Ocean Protocol (OCEAN) and SingularityNET (AGIX).

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According to an official announcement, Binance will delist and cease trading on all spot trading pairs for OCEAN and AGIX on July 1, 2024, at 3:00 a.m. (UTC). Deposits and withdrawals of Ocean Protocol (OCEAN) and SingularityNET (AGIX) will be suspended on July 1, 2024, at 3:30 a.m. (UTC).

Binance will also be terminating Trading Bot services for the aforementioned spot trading pairs on the said date.

The decision comes as Binance announces support for the Ocean Protocol (OCEAN) and SingularityNET (AGIX) token merge to Fetch.ai (FET), using the new project name Artificial Superintelligence Alliance.

The exact trading pairs being removed are AGIX/BTC, AGIX/FDUSD, AGIX/TRY, AGIX/USDT, OCEAN/BNB, OCEAN/BTC, OCEAN/TRY and OCEAN/USDT.

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According to Binance, all trade orders will be automatically removed after trading ceases in each respective trading pair.

In addition, Binance Futures will close all positions and conduct an automatic settlement on the OCEANUSDT and AGIXUSDT USDⓈ-M Perpetual Contracts on June 25, 2024, at 9:00 a.m. (UTC). The contracts will be delisted after the settlement is complete.

Delisting details

Binance Margin will be delisting the AGIX/BTC, AGIX/USDT, OCEAN/BTC and OCEAN/USDT cross margin and isolated margin pair(s) on June 26, 2024, at 6:00 a.m. (UTC). All OCEAN and AGIX balances in the Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from this date.

On July 1, 2024, at 3:00 a.m. (UTC), Binance will remove OCEAN and AGIX from the list of supported cryptocurrencies on Binance Pay. On July 28, Binance will no longer support the creation of OCEAN or AGIX gift cards.

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Binance Auto-Invest will delist OCEAN and AGIX after June 18 at 3:00 a.m. (UTC). On June 20 at 3:00 a.m. (UTC), Buy & Sell Crypto will delist OCEAN, AGIX and all associated pairs.

On June 25 at 9:00 a.m. (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the OCEANUSDT and AGIXUSDT symbols.

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