Binance Futures Delisting STEPN, Near, And Avalanche BUSD Perps From Trading
Binance Futures recently made an announcement stating that it would be closing all positions for its USDⓈ-margined perpetual contracts for STEPN’s, Near Protocol’s and Avalanche’s native crypto assets’ BUSD pairs. This move has come as a surprise to investors and analysts alike. While the closure will follow an automatic settlement, which will occur on April 18 at 9 a.m. UTC, according to a statement.
Binance Futures is also adjusting leverage and margin tiers for the same perpetual contracts by lowering them. The change will take place on April 14 at 3 p.m. UTC. This move has led many to question the reasoning behind the sudden change in policy. For those unaware, USDⓈ-margined futures on Binance Futures use Tether’s USDT and Binance USD (BUSD) as collateral and offer isolated or cross margin types. They are settled in dollar-pegged assets, making it easy for users to calculate fiat returns (as opposed to coin-margined contracts). However, this move by Binance Futures to delist and update the leverage margin tiers of USDⓈ-margined perpetual contracts for STEPN’s.
Source
https://t.me/Crypto_Futures_Trading
