Saturday, February 24, 2024
Blockchain

Binance.US to Remove Certain Trading Pairs and Pause OTC Trading

Binance.US announced today that it will be making significant changes to its trading structure. The changes, set to take place on June 8, 2023 at 9 a.m. PDT / 12 p.m. EDT, will involve the removal of select Advanced Trading pairs and a pause on their Over-The-Counter (OTC) Trading Portal.

The adjustments come as part of a broader effort to streamline the platform’s Buy, Sell & Convert offerings. While the OTC Trading Portal is paused, the remaining platform operations, including deposits and withdrawals, will continue to function as usual, ensuring that assets on Binance.US remain secure.

The changes in Advanced Trading will specifically involve the removal of certain USDT, BTC, and BUSD pairs. Meanwhile, the Buy, Sell & Convert offering will be downscaled, reducing the number of supported Convert trading pairs to 226. However, several assets including USDT, USDC, BNB, ETH, BTC, FET, ATOM, APT, MATIC, LTC, DOGE, SHIB, FTM, APE, SOL, LINK, ADA, DOT, GALA, and AVAX will still be supported, with the addition of USD for Convert. Additionally, the maximum trade amount for Buy, Sell & Convert will be updated to $10,000.

With respect to the OTC Trading Portal, Binance.US has assured its users that they will be notified if and when OTC trading becomes available again in the future. The pause in OTC Trading Portal services is part of Binance.US’s move to ensure a smoother and more efficient trading experience for its users.

The firm also urged its users to carefully review their trades and execute or cancel open orders on impacted Advanced Trading pairs before they are removed from the platform. It is worth noting that only select assets and trading pairs for Advanced Trade and Buy, Sell & Convert are impacted by this change. Deposits and withdrawals for all assets, along with trade functionality, will remain available.

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