Bitcoin

Amid regulatory changes, Binance delists Cardano (ADA) and Polygon (MATIC) perpetual contracts

1 Mins read

Join Our Telegram channel to stay up to date on breaking news coverage

The biggest cryptocurrency exchange in the world, Binance, has chosen to remove Cardano (ADA) and Polygon (MATIC) perpetual contracts from its listing. According to a formal announcement made on August 10, the exchange’s decision is the result of its desire to stop offering USDS-M perpetual contracts for ADABUSD and MATICBUSD. The exchange will start the delisting process and make the appropriate changes to leverage and margin levels following the automated settlement scheduled for August 10.

Binance will close out holdings for ADABUSD and MATICBUSD

It should be noted that the action is related to recent regulatory developments, possibly involving the Securities and Exchange Commission’s (SEC) categorization of Cardano and Polygon tokens as securities. This categorization has triggered legal actions against significant exchanges, such as Binance and Coinbase, which have reverberated across the cryptocurrency ecosystem. Although Cardano and Polygon strenuously refute these accusations, the SEC’s position has had an impact on Binance’s strategic choices.

Binance will close off all positions for ADABUSD and MATICBUSD at 9:00 UTC on August 17, enabling an automated settlement procedure. Due to this, the exchange advises users to make any necessary changes before the deadline in order to avoid inconvenience.

Further adjustments are being made as Binance prepares to update the leverage and margin tiers for the perpetual MATICBUSD and ADABUSD contracts. For traders and investors, this unplanned change may have enormous ramifications and force them to reevaluate their tactics and levels of risk tolerance.

Nevertheless, there is a positive aspect to these changes. Up to 8:30 UTC on August 17, users can still create new positions in ADABUSD and MATICBUSD. Traders have one more window to take advantage of any market opportunities before the perpetual contracts are really stopped.

Related

Wall Street Memes – Next Big Crypto

Wall Street Memes
  • Early Access Presale Live Now
  • Established Community of Stocks & Crypto Traders
  • Featured on BeInCrypto, Bitcoinist, Yahoo Finance
  • Rated Best Crypto to Buy Now In Meme Coin Sector
  • Team Behind OpenSea NFT Collection – Wall St Bulls
  • Tweets Replied to by Elon Musk

Wall Street Memes


Join Our Telegram channel to stay up to date on breaking news coverage



Source link

Related posts
Bitcoin

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

1 Mins read
On Sunday, President-elect Donald J. Trump revealed that Stephen Miran, who previously served during Trump’s first term, will helm the Council of…
Bitcoin

Buying XYZVerse at $0.001333? DOGE Millionaire Thinks It’s 2021 All Over Again

3 Mins read
An investor known for amassing wealth from Dogecoin believes a new opportunity has emerged with XYZVerse priced at $0.001333. Observers are speculating…
Bitcoin

ISIS Crypto Fundraiser Mohammed Chhipa Faces 20 Years After Conviction in Virginia

2 Mins read
Mohammed Azharuddin Chhipa, 35, from Springfield, Virginia, was convicted on December 13, 2024, for providing material support to the Islamic State of…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *