Binance Drops Bombshell, Announces Delisting of Cardano and Polygon

Binance the world’s largest crypto exchange is bringing significant changes to its Binance Futures trading platform. In a recent announcement to its ‘Binancians,’ Binance Futures announced their plans to delist Cardano (ADA) and Polygon (MATIC) perpetual contracts on their platform. This means that users will not be able to trade these contracts on Binance effective next week, August 17, 2023, precisely at 09:00 (UTC).

Although at this stage, Binance’s decision to delist remains unclear, it clarifies that it will automatically close and settle all currently active trading positions for ADABUSD and MATICBUSD perpetual contracts. Once the settlement is complete, the platform will proceed to remove these contracts from trading.

Moreover, the platform adds that it will adjust the leverage and margin tiers of both ADABUSD and MATICBUSD perpetual contracts from today, August 10, 2023, at 12:30 (UTC) as per updates on its official website.

Moreover, starting today, August 10, 2023, at 12:30 (UTC), Binance Futures will bring in changes to the leverage and margin tiers of both ADABUSD and MATICBUSD perpetual contracts. Seemingly, users with existing positions, prior to the recent changes will be directly impacted.

Based on the above announcement, users are urged to make any and all necessary changes at the soonest to avoid automatic settlement on Binance Futures. Additionally, users will also not be permitted to open new positions for the said contracts starting August 17, 2023, at 08:30 (UTC).

Binance Futures is a trading platform by Binance that allows its users to trade quarterly and perpetual futures contracts. While quarterly contracts expire after three months, perpetual contracts do not have an expiration date.