Binance announces it will terminate leveraged token service! BTCUP, ETHUP, etc. are all removed from the shelves

This site (120btC.coM): Cryptocurrency exchange Binance stated that the platform will stop supporting “leveraged token” services on April 3.

Binance’s leveraged tokens can be bought and sold on the spot market, allowing users to participate in cryptocurrency price movements through leverage without holding actual assets. Binance initially launched this in 2020 services, but many leveraged token trading pairs have been gradually removed from the shelves, and currently the only leveraged tokens with Bitcoin, Ethereum and BNB as the underlying assets (BTCUP and BTCDOWN, ETHUP and ETHDOWN, BNBUP and BNBDOWN) will also be was removed from the shelves.

Binance stated that in order to provide more valuable and advantageous products and services, their team will regularly review online products. As part of a recent review, they decided to discontinue their leveraged token service.

Binance announced that it will suspend trading and subscription services for leveraged token trading pairs starting at 2 pm on February 28, and automatically clear all pending orders. Users will not be able to place orders after this. At the same time, starting from April, Binance will terminate the redemption service of leveraged tokens and gradually remove related tokens from the shelves.

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