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- Binance, one of the world’s leading cryptocurrency exchanges, announced plans to remove several liquidity pools from its Liquid Swap platform on January 5, 2024. The move aims to improve liquidity and reduce slippage for users . The affected pools are a mix of popular cryptocurrencies including , BNB/USDT, BTC/USDT, , DOGE/USDT, ETH/USDT, , SHIB/USDT, USDT/DAI and XRP/USDT.
Starting January 1, users will no longer be able to add new liquidity to these pools. Binance advised users to withdraw their assets before the delisting date. If users fail to withdraw their assets on time, Binance said that all remaining assets in delisted pools will be automatically transferred to users’ Spot wallets.
The move to streamline Liquid Swap offerings is part of Binance’s ongoing efforts to comply with global regulations and optimize its trading services. The exchange previously made headlines when it halted sterling spot trading pairs following Financial Conduct Authority (FCA) regulations and the end of a key UK banking partnership, which has had a significant impact on the ability of sterling traders to deposit and withdraw funds on the platform.
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