Binance to Delist Several Margin Trading Pairs, Including C98/BTC and IDEX/BTC
Alvin Lang Nov 20, 2024 03:36
Binance announces the removal of several margin trading pairs, including C98/BTC and IDEX/BTC, from its platform by November 27, 2024, affecting both cross and isolated margin accounts.
In a recent announcement, Binance, one of the leading cryptocurrency exchanges, has revealed plans to delist a selection of margin trading pairs from its platform. Effective November 27, 2024, at 06:00 (UTC), the exchange will remove both cross and isolated margin pairs, including C98/BTC, IDEX/BTC, and several others, according to Binance.
Details of the Delisting
The announcement outlined the specific margin pairs affected by the delisting. For cross margin accounts, the pairs C98/BTC and IDEX/BTC will be removed. The isolated margin pairs to be delisted include C98/BTC, FIS/BTC, IDEX/BTC, MBOX/BTC, REN/BTC, and TKO/BTC.
Effective immediately, users will be unable to transfer any assets of the mentioned pairs into their isolated margin accounts. However, if users have outstanding liabilities with these tokens, they may manually transfer an amount up to their liabilities into their accounts, minus any collateral already present.
Impact on User Accounts
Starting November 21, 2024, at 06:00 (UTC), Binance Margin will suspend borrowing on the affected isolated margin pairs. On the delisting date of November 27, all positions will be closed, automatic settlements will occur, and any pending orders will be canceled.
Users are advised to close their positions and transfer their assets from Margin Wallets to Spot Wallets before the cessation of trading. Binance emphasized that they will not be responsible for any potential losses incurred during this process.
Alternative Trading Options
Despite the delisting, users can still trade the affected assets on other available trading pairs on Binance Margin. The exchange reassures its users that they can find alternative avenues for trading these digital assets.
Binance's decision to delist these pairs is part of its regular review process to ensure optimal trading conditions and risk management. The company advises users to consult the original English version of the announcement for the most accurate information, as translations may not capture all details accurately.
For more guidance and related materials, users are encouraged to visit Binance's official channels and consult the available resources on responsible trading practices.
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