Binance, a leading cryptocurrency exchange, has issued a warning to its users regarding the impending removal of several perpetual futures contracts from its platform.
In a proactive move aimed at aligning with market conditions and enhancing trading security, Binance has decided to delist contracts associated with STP, Status, MovieBlock, Radworks, and Convex.
Traders involved in these contracts are urged to review their trading strategies to mitigate the risk of potential liquidation, especially regarding leverage settings.
Effective May 13, Binance will no longer allow the opening of new positions for contracts associated with STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT.
Additionally, Binance Futures Trading reserves the right to implement further protective measures without prior notification. This may include adjustments to leverage limits, position values, maintenance margins across various levels, and other relevant modifications.
In other Binance-related news, founder Changpeng Zhao has been sentenced to four months in prison by a U.S. court for his involvement in money laundering and other illicit activities. While the sentence was lighter than anticipated, with the prosecution initially seeking 36 months, the verdict was delayed by more than two months, originally expected to be announced on February 23.
Despite this legal development, Binance continues its operations, maintaining its commitment to providing a secure and compliant trading environment for its global user base.
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