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Binance crypto exchange removes all LUNA and UST trading pairs

Binance crypto exchange removes all LUNA and UST trading pairs

Crypto exchange Binance adopted a series of measures to reduce the effects of the crisis that broke out over LUNA.

As reported on the official Binance website, the company announced the delisting of trading pairs with LUNA and UST. All LUNA and UST tools, including spot and margin transactions, were deleted. These changes took effect on May 13.

The exchange also reported that all positions would be closed and executed automatically, with all pending orders canceled.

A day earlier, on May 12, Binance delisted LUNA perpetual margin contracts as well as updated the leverage and margin terms on LUNA futures. All contracts were automatically executed at 08:00 UTC on May 12, 2022. Remarkably, a notification appeared on the official exchange website ten minutes before the automatic closure.

The maximum leverage on LUNA perpetual contracts in USDT was reduced from x21-25 to x8. Earlier, the crypto exchange suspended the withdrawal of LUNA and UST.

It's matters: Hoping for the best, prepared for the worst: why the crypto industry crisis is inevitable and what the Dot-com bubble has to do with it

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