Binance, the leading global cryptocurrency exchange, announced its decision to delist and discontinue the use of ADAUP and ADADOWN leveraged tokens. This change will go into effect at 9:00 a.m. on November 1, 2023.
Binance Announces Delisting of ADAUP and ADADOWN Leveraged Tokens
Users are advised to immediately initiate the redemption process for their ADAUP and ADADOWN leveraged tokens via the wallet function or the dedicated Leverage Tokens page, before the specified delisting date.
For users holding these leveraged tokens after delisting, Binance will perform conversion to USDT based on their respective net asset value (NAV) at the time of delisting.
The resulting USDT tokens will then be distributed to users’ accounts within 24 hours. Upon completion of this distribution, assets associated with ADAUP and ADADOWN leveraged tokens will be withdrawn from the wallet interface.
This situation is not related to the ADA/USDT parity. This parity will continue to remain as before.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/bitcoin-exchange-binance-announced-that-it-decided-to-delist-these-altcoins/