Binance Announces Major Delisting of BTC and USDT Margin Pairs by July 24, 2024

By CryptoTale

2 months ago

BTC

USDT

TUSD

Binance will delist the BTC/TUSD and TUSD/USDT margin pairs, effective July 24, 2024, and is urging traders to adjust.
Isolated margin borrowing for BTC/TUSD and TUSD/USDT pairs will be suspended starting July 12, 2024.
All TUSD balances in Cross-Margin Wallets to be auto-converted to USDT, impacting trades starting July 24, 2024.

Binance, one of the largest cryptocurrency trading platforms globally, has recently announced plans to remove some of the most popular Bitcoin (BTC) and Tether (USDT) margin pairs. These changes will mostly concern pairs with TrueUSD (TUSD) and will become effective on July 24, 2024, an important trading day.

This strategic adjustment was revealed on July 11, 2024, and includes both Cross and Isolated Margin trading pairs. Specifically, the BTC/TUSD and TUSD/USDT pairs will be delisted. The process will commence with the suspension of isolated margin borrowing for these pairs starting July 12, 2024. By July 24, the exchange plans to close all user positions, conduct automatic settlements, and cancel all pending orders, removing these pairs from margin trading entirely.

Binance has encouraged its users to act before the delisting, and they can sell their tokens for other supported cryptocurrencies. Margin traders must close their trades and move funds from the Margin Wallets to the Spot Wallets to eliminate a possible loss. Binance has bluntly said it would not be held responsible for any losses due to this shift.