Binance to delist several spot trading pairs with BNB

The cryptocurrency exchange Binance said it would delist a number of spot trading pairs involving BNB, BUSD and ETH, effective June 14.

Binance announced that it will remove the following spot trading pairs: BIFI/BUSD, DASH/BNB, FIO/BUSD, GAL/BNB, ILV/BNB, KLAY/BNB, LIT/ETH, MC/BNB, MINA/BNB, MLN/BUSD , ONE/ETH, OXT/BUSD, PEOPLE/BNB, PEOPLE/ETH, QNT/BNB, WAXP/BNB, XTZ/ETH, ZEC/BNB, ZRX/ETH.…

— Wu Blockchain (@WuBlockchain) June 12, 2023

Spot trading will discontinue support for: BIFI/BUSD, DASH/BNB, FIO/BUSD, GAL/BNB, ILV/BNB, KLAY/BNB, LIT/ETH, MC/BNB, MINA/BNB, MLN/BUSD, ONE/ETH, OXT/BUSD, PEOPLE/BNB, PEOPLE/ETH, QNT/BNB, WAXP/BNB, XTZ/ETH, ZEC/BNB, ZRX/ETH.

The company noted that users will be able to trade the above assets in other available pairs.

The Binance team reminded users to update their trading bot settings due to the delisting to avoid potential losses.

Commentators noted that shortly before such a broad removal of trading pairs, the exchange updated its terms of service. Under amendments dated June 6, the platform gained the right to automatically convert assets whose support has ceased into tokens at its discretion.

https://t.co/VjALlfbpCz

— Daniel Krupka (@krupda42) June 12, 2023

A number of commentators pointed out that the platform is not removing the listed assets from the platform entirely; rather, it concerns certain trading pairs. The broad list of delistings involving BNB and BUSD has given rise to speculation that it is connected to inquiry SEC.

The SEC

— Chidera Divine (@div27094) June 12, 2023

Binance’s margin-trading platform also announced delistings of several isolated margin pairs: BNT/BUSD, CVX/BTC, POLS/BUSD, POWR/BUSD, STPT/BUSD and STRAX/BUSD.

#Binance will delist the following Isolated Margin pairs:

? BNT/BUSD
? CVX/BTC
? POLS/BUSD
? POWR/BUSD
? STPT/BUSD
? STRAX/BUSDhttps://t.co/EiuOaPV4K3

— Binance (@binance) June 12, 2023

Earlier, Binance said it had the an intention to “vigorously defend itself” in the SEC case. However, the regulator’s lawsuit contains parallels with the FTX case.