Binance to delist several perpetual futures contracts

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As a seasoned crypto investor with several years of experience under my belt, I’ve learned to keep a close eye on developments within the industry, especially when it comes to exchange announcements and regulatory news. The recent warning from Binance regarding the removal of several perpetual futures contracts has piqued my interest.

Binance has warned users that it will remove several perpetual futures contracts from its listing.

Binance announced that it will eliminate the contracts for STP, Status, MovieBlock, Radworks, and Convex. This action is taken in advance to match current market circumstances and enhance trading safety.

It is recommended that traders carefully consider adjusting their approaches for trading the mentioned contracts, with a focus on managing leverage to prevent possible liquidation of their positions.

Starting May 13, I won’t be able to open new contracts for STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT on Binance due to an upcoming update.

As a Binance Futures trader, I understand that the platform holds the discretion to implement additional safeguards at any given time without previous notification. These measures may encompass modifications to the maximum leverage, position worth, maintenance margin requirements for various tiers, and further enhancements.

A U.S. court ordered Binance founder Changpeng Zhao to serve a four-month sentence beginning April 30, following his conviction for money laundering and other unlawful actions.

The sentence handed down to Changpeng Zhao was unexpectedly lighter than anticipated. Initially, it was believed that a decision would be made regarding his case on February 23rd. However, the trial was delayed for over two months beyond this date. The prosecution’s proposed sentence was 36 months in prison.

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2024-05-06 17:55