- Binance Futures announces the delisting of STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT perpetual contracts, along with leverage and margin tier adjustments.
- The delisting is part of the exchange’s ongoing efforts to ensure the integrity and efficiency of its trading offerings.
- Traders are advised to close positions and adjust leverage before the delisting dates.
Binance Futures is delisting several cryptocurrencies and adjusting leverage and margin tiers. Traders are advised to take necessary actions before the delisting dates.
Binance Futures Delisting Cryptocurrencies
Binance Futures, a leading cryptocurrency derivatives exchange, has decided to delist several cryptocurrencies from its platform. Among these are the USDⓈ-M perpetual contracts for STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT. This move is part of the exchange’s ongoing efforts to ensure the integrity and efficiency of its trading offerings. The delisting process will involve the closure of all positions and the initiation of automatic settlement procedures.
Details of the Delisting
The delisting and automatic settlement will occur on different dates for each contract. Specifically, the STPTUSDT, SNTUSDT, and MBLUSDT contracts are scheduled to close on May 13 at 09:00 (UTC), while the RADUSDT and CVXUSDT contracts will follow suit on May 14 at 09:00 (UTC). Once the settlement process is complete, these contracts will be removed from the platform, signaling the end of their trading availability on Binance Futures.
Leverage and Margin Adjustments
In conjunction with the delisting of certain contracts, Binance Futures will also implement adjustments to leverage and margin tiers for the affected perpetual contracts. These changes are set to take effect on May 6 at 10:30 (UTC) and will impact existing positions that were opened before the update. Users are strongly urged to take proactive measures to adjust their positions and leverage accordingly in order to mitigate any potential risks of liquidation.
User Recommendations and Protective Measures
As part of its commitment to user safety and risk management, Binance Futures has issued important recommendations and precautionary measures for its users. First and foremost, users are advised to proactively close any open positions associated with the delisted contracts prior to the specified delisting time. Failure to do so may result in automatic settlement, potentially leading to unintended consequences for traders. Furthermore, users will be restricted from opening new positions for the affected contracts starting from specific dates.
Conclusion
The delisting of several cryptocurrencies and the adjustments to leverage and margin tiers by Binance Futures are significant developments in the crypto trading space. Traders are advised to take necessary actions to avoid potential risks and losses. As the crypto market continues to evolve, exchanges like Binance Futures are making necessary adjustments to maintain the integrity and efficiency of their platforms.
