The world's largest crypto exchange, Binance, on Wednesday announced the removal of more trading pairs Cardano (ADA) and Polygon (MATIC). This crypto exchange will remove and stop trading 20 crypto trading pairs against BUSD and BIDR. The removal and suspension of trading of Cardano and Polygon on Binance increased following demands from the SEC and CFTC.
Crypto exchange Binance in an official announcement on September 6 revealed plans to remove and stop trading on 20 spot trading pairs. Binance periodically adds and removes crypto trades from products and trades. However, US SEC lawsuits and regulatory challenges have forced Binance to make these changes more frequently.
“To protect users and safeguard the trading market, Binance conducts periodic reviews of all registered spot trading pairs, and removes some selected spot trading pairs due to various factors, such as poor liquidity and low trading volume.”
Binance will remove the Cardano (ADA), Polygon (MATIC), and Zilliqa (ZIL) trading pairs against the BIDR pair on September 8 at 09:00 UTC.
In addition, this exchange will also remove AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, MOB/BUSD, OGN/BUSD, OMG/BUSD, PLA/ BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SCRT/BUSD, and TVK/BUSD on September 8.
Users should renew or cancel their spot trading bots before the trading pairs are stopped to avoid potential losses. It also advises users to convert their BUSD to FDUSD stablecoin before February 2024.
On August 17, Binance removed Cardano (ADA) and Polygon (MATIC) perpetual contracts in the BUSD pair. Additionally, the exchange removed Cardano (ADA), Polygon (MATIC), and 37 other liquidity pools on September 1.
Meanwhile, Binance plans to make changes to Bitcoin trading without trading fees for the BTC/TUSD spot trading pair. This move may trigger another massive sell-off as trading volume will drop, similar to the 90% drop in trading volume following Binance's suspension of no-fee trading in March.
