Binance Margin, a feature of the Binance cryptocurrency exchange, has announced that it will delist ten isolated margin pairs effective September 14, 2023, at 06:00 (UTC). The pairs to be removed are ALPHA/BUSD, ANT/BUSD, BAL/BUSD, COS/BTC, DGB/BUSD, FIRO/BUSD, OOKI/BUSD, QI/BTC, RVN/BUSD, and TWT/BUSD.
Timeline of Events
The delisting process will follow a structured timeline:
September 4, 2023, at 06:00 (UTC): Suspension of isolated margin borrowing for the affected pairs.
September 14, 2023, at 06:00 (UTC): Automatic settlement of users’ positions and cancellation of all pending orders on the specified pairs.
Users are strongly advised to close their positions and transfer their assets from Margin Wallets to Spot Wallets before September 14, 2023, at 06:00 (UTC). Binance has stated that it will not be responsible for any potential losses incurred during the delisting process.
Implications for Users
The delisting of these margin pairs could have various implications for traders. For one, it limits the options for leveraging assets in the short term. It also necessitates the reallocation of assets for those who have existing positions in these pairs.
Binance delisting actions are generally taken due to low trading volume, regulatory concerns, or technological issues with the assets involved.
Risk Management
The announcement also serves as a reminder for traders to exercise caution and risk management. Users are unable to update their positions during the delisting process, making it imperative to act before the deadline.
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