TL;DR
- Binance Futures will stop supporting XRP and TUSD in Multi-Assets mode starting May 28, 2024.
- Remaining XRP and TUSD balances will be automatically converted to USDT at the specified rates.
- Users are advised to avoid opening new positions during the conversion period to avoid potential losses.
Binance Futures, one of the leading global cryptocurrency derivatives platforms, has announced significant changes related to XRP and TrueUSD (TUSD) in Multi-Assets mode.
Starting May 28, 2024, Binance Futures will no longer support XRP and TUSD as marginal assets in Multi-Assets mode.
This decision follows the update of the transfer limit for XRP and TUSD in this mode, set to zero since May 14, 2024.
Remaining XRP and TUSD balances in Binance Futures USDⓈ-M Futures wallets will be automatically converted to USDT at the specified rates within approximately 24 hours after 06:00 (UTC) on May 28, 2024.
For XRP, the conversion will be based on the average the conversion.
Users are strongly warned to avoid opening new futures positions during the XRP and TUSD to USDT conversion period to mitigate potential losses.
Binance will not be responsible for any losses incurred from new positions during this period.
This move by Binance Futures reflects its continued commitment to optimizing its platform and services in line with market dynamics and user preferences.
As the world of cryptocurrency evolves, the company is committed to providing a secure and efficient trading environment for its global user base.
Binance Commitment to Adapt to Change and Precautions
The discontinuation of support for XRP and TUSD in Binance Futures Multi-Assets mode represents a significant change for users of the platform.
To adapt to this transition effectively and reduce the risk of losses, it is crucial to follow the recommendations provided by Binance.
Users should refrain from opening new futures positions during the XRP and TUSD to USDT conversion period.
This will ensure that you do not face any potential losses due to automatic balance conversion.
It is also essential to closely monitor updates and additional communications from the company related to this transition.
Staying informed about changes to platform policies and procedures will help users make more informed and confident trading decisions.
Binance Futures decision to optimize its platform and services reflects its continued commitment to security and efficiency in the cryptocurrency ecosystem.
By adapting to changing market needs and user preferences, Binance demonstrates its dedication to providing a reliable and transparent trading experience for its extensive global user base.
