Binance, the leading global cryptocurrency exchange today announces that it will delist margin trading pairs for three fiat currencies. The three fiat currency pairs that will be delisted are Euro (EUR), the Australian dollar (AUD) and the British pound sterling (GBP).
According to Binance, “All of your margin balance may be liquidated in the event of extreme price movement.”
As per the announcement, all the mentioned trading pairs will be suspended from Aug 10 and then will switch to automatic settlement and cancel all related pending orders.
CZ Binance, today also announces reducing the maximum leverage positions from 125x to 20x on Binance Futures.
The tweet by CZ says, “Binance futures started limiting new users to max 20x leverage last Monday, Jul 19th, 7 days ago. (We didn’t want to make this a thingy). In the interest of Consumer Protection, we will apply this to existing users progressively over the next few weeks.”
Sam Bankman-Fried, the CEO of crypto derivatives exchange FTX also announces on July 25 that it will reduce the maximum leverage from 101x to 20x. The leverage has been reduced to promote responsible trading practices.
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