In a new announcement, Binance announced its delisting decision for 10 altcoins, which it is involved in projects such as Trust Wallet (TWT) and Balancer (BAL). Specifically, the decision on Balancer came after what happened last week.
These 10 altcoins are leaving Binance list
According to the September 1 announcement, Binance will permanently terminate isolated margin trading for the following 10 altcoins. The delisted trading pairs include BTC and BUSD pairs, different for each coin. cryptocoin.comAs we reported, Binance plans to end its support for BUSD by 2024.
- ALPHA (Alpha Coin)
- ANT (Aragon)
- BAL (Balancer)
- COS (Content)
- DGB (DigiByte)
- FIRO (Firo)
- OOKI (Ooki)
- QI (BENQI)
- RVN (Ravencoin)
- TWT (Trust Wallet)
The trading pairs to be delisted against BTC and BUSD are as follows:
- DGB/BUSD
- RVN/BUSD
- FIRO/BUSD
- TWT/BUSD
- OOKI/BUSD
- COS/BTC
- ANT/BUSD
- HONEY/BUSD
- ALPHA/BUSD
- QI/BTC
Delist decision for Balancer (BAL) came after hack
On August 22, the Balancer (BAL) team reported that the protocol detected a vulnerability in V2 pools. BAL price lost more than 5% on this date. In the first place, the Altcoin team demanded that users of V2 pools secure their own liquidity. Meanwhile, he was among the pioneers supporting the Balancer team at Balancer Labs.
Balancer has received a critical vulnerability report affecting a number of V2 Pools.
Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk.
Users are advised to withdraw affected LPs immediately.https://t.co/PDzX32gqeS pic.twitter.com/F1f649Wz3L
— Balancer (@Balancer) August 22, 2023
Binance plans to end support for BUSD by 2024
Leading exchange Binance announced that it will end its support for BUSD by ending its cooperation with Paxos in 2024. This decision means that there may be changes to Binance users’ BUSD-related transactions and services. Paxos’ BUSD stablecoin allowed Binance users to reliably trade in dollars. This development has raised a number of question marks among BUSD users in the crypto community. It also prompted him to consider his future steps.
FYI: Binance will stop BUSD in 2024🪙
According to an official announcement on crypto exchange Binance’s app, the exchange pops up a notification for users that they will stop supporting BUSD in 2024.
This is an elignment with Paxos phase out for purchasing BUSD by February… pic.twitter.com/XiRPy71b3p
— Nu Brave (@NuBraveIN) August 30, 2023
In the official announcement, Binance urged its users to trade BUSD for Hong Kong-based First Digital USD (FDUSD). FDUSD was launched in June. It was listed on Binance for the first time at the end of July. However, Binance has already launched the opportunity for its users to trade BUSD for FDUSD. The latest development shows that it has terminated 8 BUSD trading pairs. The exchange had promoted free trading opportunities for Bitcoin (BTC) and Ethereum (ETH) and FDUSD in the previous period.
Leading exchange continues to grapple with problems caused by SEC
Binance’s decision to end support for BUSD came after a notification from the SEC on February 13 that it claimed BUSD was an unregistered security. On the same day, the New York Department of Financial Services also instructed Paxos to stop issuing BUSD.
