BREAKING: BinanceUS stops trading Bitcoin (BTC), Cardano (ADA), Polygon (MATIC), Solana (SOL), Litecoin (LTC) and 4 other major cryptocurrencies [Advance Cash ]

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Binanceus

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  • Binance.US has announced its decision to halt and cease trading for certain USD Advanced Trading pairs.
  • BinanceUS said users can now deposit XRP since they have it listed on their platform.

On Friday, Binance.US, the US-based arm of the largest cryptocurrency exchange Binance, announced its decision to halt and cease trading for certain Advanced USD Trading Pairs. The action is part of the exchange's transition to a "crypto-only exchange," where it will exclusively support trading between cryptocurrencies and stablecoin pairs while eliminating trading against the US dollar.

In an official statement released On July 14, Binance.US, a cryptocurrency exchange, confirmed that it will permanently remove and halt trading of various USD-paired cryptocurrencies in advanced trading. The affected cryptocurrencies include Bitcoin, Ethereum, BNB, Litecoin, Polygon MATIC, Cardano, Solana, VeChain and the USDC stablecoin.

Relevant trading pairs in the Advanced Trading section include ADA/USD, BNB/USD, BTC/USD, ETH/USD, LTC/USD, MATIC/USD, SOL/USD, USDC/USD, and VET/USD. Trading of these cryptocurrencies with USD Advanced Trading pairs will end on July 13 at 8 p.m. PDT / 11 p.m. EDT. Although the USDC/USD pair is being discontinued, trading with USD will still be available through the USDT/USD Advanced Trading pair.

Additionally, users will still be able to trade over 150 cryptocurrencies on the Advanced Trading platform using USDT pairs. Additionally, some cryptocurrencies may support trading with BTC, BUSD, DAI, or TUSD.

XRP Listing and Trading on BinanceUS

Additionally, BinanceUS declared that users can now deposit XRP as the cryptocurrency has been listed on their platform. The announcement revealed that trading in the XRP/USDT advanced trading pair will begin on July 14, 2023 at 6:00 a.m. PDT or 9:00 a.m. EDT.

Following the Securities and Exchange Commission (SECOND) lawsuit against Ripple, accusing them of selling XRP as an unregistered security, Binance US decided to remove XRP from its platform. However, this delisting was specific to Binance US and did not impact the broader Binance crypto exchange, which continued to support XRP trading. Following Ripple's recent legal triumph in its three-year legal battle with the SEC, XRP is making a comeback to exchanges where it was previously delisted.

Rationalization of USD withdrawals

Despite the meeting several challenges in the United States, such as the loss of banking partners and sources of income, BinanceUS still allows users to engage in various activities, including buying, selling and converting cryptocurrencies into USD. Additionally, users can use USD to trade 21 different cryptocurrencies. However, Binance US has warned that its remaining partners may discontinue USD withdrawal services.

Taking steps to resolve the issue, on June 23, Binance US worked with its banking partners to resolve all delayed USD withdrawal requests. As a result, the crypto exchange now aims to process most USD withdrawal requests within the standard time frame of 5 business days or less.

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