Binance Futures, one of the world’s leading cryptocurrency derivatives exchanges, announced that margin asset support affecting XRP and TrueUSD (TUSD) in Multi-Asset Mode has been cut.
Effective May 28, 2024 at 09:00, Binance Futures will stop supporting XRP and TUSD as margin assets in Multi-Asset Mode. Additionally, the transfer limit for XRP and TUSD in this mode will be set to zero starting from 09:00 on May 14, 2024.
Following termination, all remaining XRP and TUSD balances in USDⓈ-M Futures wallets on Binance Futures will be automatically converted to USDT at the specified rates within approximately 24 hours after 9:00 AM on May 28, 2024.
Conversion rates for remaining balances are as follows:
For XRP: Conversion will be based on the average XRPUSDT Price Index observed between 08:00, May 28, 2024 and 09:00, May 28, 2024.
For TUSD: A simple 1:1 ratio will apply for conversion.
To reduce possible losses, users are strongly advised not to open new futures positions during the conversion period of XRP and TUSD to USDT.
Binance emphasizes that it will not accept responsibility for any losses incurred by users who open new positions during this transition period.
This move by Binance Futures reflects the exchange’s ongoing commitment to optimizing its platform and services in line with market dynamics and user preferences.
As the cryptocurrency world continues to evolve, Binance is committed to providing a safe and efficient trading environment for its global user base.
*This is not investment advice.