Godfrey Benjamin
The Binance exchange has delisted XRP along with 11 other liquidity pools
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Binance Exchange, the world's largest trading platform by volume, has announced that it will be removing a total of 12 trading pairs from its liquidity swap offering.
According to the trading giant, the liquidity pairs with /BUSD or OP/BUSD pairs.
It is not uncommon for the Binance exchange or even other trading platforms to delist assets that are generally underperforming. In the case of Binance, the company claimed that these delisted trading pairs do not currently meet its requirements for sustained support of its liquidity swap offering. The exchange emphasized that affected users have until October 17 to either close or liquidate all open positions.
The company assured readers that the delisting of the Binance Liquidity Swap trading pools may not impact trading of these pairs on its spot markets. While the exchange said users can trade other supported pairs on Binance Swap, new liquidity access will be blocked for the delisted pairs starting Friday, October 13.
Regular remediation of Binance
As the largest digital currency trading company, Binance is known for regularly conducting redevelopments of its platform. As U.Today previously reported, one of the most recent currency pairs to be delisted is the XRP and Dogecoin (DOGE) currency pairs, which were de-platformed due to a recent regulatory action.
The ongoing legal conflict between Binance and the US Securities and Exchange Commission (SEC) has also resulted in a number of trading pairs being delisted from the platform in order not to complicate the regulatory issues.
Overall, Binance always strives to remain compliant in each of the markets in which it operates and therefore limits supported trading pairs to the extent permitted by law.
About the author
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for cryptocurrencies was born when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. Due to his extensive experience in various aspects of Web3, Godfrey's articles have been published on Blockchain.news, Cryptonews and Coingape, among others.
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