Binance, one of the world’s leading cryptocurrency exchanges, has announced that it will delist TrueUSD (TUSD) from its Cross and Isolated Margin trading pairs, effective July 24, 2024, at 06:00 (UTC), according to Binance.com.
Details of the Delisting
The delisting will affect the following trading pairs:
- Cross Margin Pairs: BTC/TUSD, TUSD/USDT
- Isolated Margin Pairs: BTC/TUSD, TUSD/USDT
As part of the delisting process, Binance will suspend isolated margin borrowing for the affected pairs on July 12, 2024, at 06:00 (UTC). Subsequently, on July 24, 2024, at 06:00 (UTC), Binance will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned pairs. These pairs will then be removed from the Margin platform.
User Advisory
Binance advises users to close their positions and transfer their assets from Margin Wallets to Spot Wallets before the cessation of margin trading on July 24, 2024, to avoid any potential losses. During the delisting process, users will not be able to update their positions.
Portfolio Margin users are also advised to transfer the affected tokens out of their Margin Wallets to their Spot Wallets and top up their margin balance before the delisting date. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid potential liquidation due to the removal of TUSD from the Margin Wallet.
All TUSD balances in Cross Margin Wallets under the Portfolio Margin account will be automatically converted to USDT starting from July 24, 2024, at 06:00 (UTC). This conversion process may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds.
Additional Information
Binance has highlighted that there may be discrepancies in the translated versions of this announcement. Users are encouraged to refer to the original English version for the most accurate information.
Additionally, Binance reserves the right to amend or cancel this announcement at any time without prior notice. Users in the European Economic Area (EEA) are reminded that unauthorized stablecoins are subject to certain restrictions from June 30, 2024, in compliance with MiCA requirements.
For more details on margin trading rules and risk warnings, users can refer to Binance’s official FAQ.
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