Binance will delist all FTX leveraged tokens on March 31st. The official reasoning is that users were misunderstanding the way the tokens devalued over time as the underlying assets fluctuate back and forth.
The assets being delisted include BULL, BEAR, ETHBULL, ETHBEAR, EOSBULL, EOSBEAR, BNBBULL, BNBBEAR, XRPBULL and XRPBEAR.
The trading pairs being delisted include BULL/USDT, BULL/BUSD, BEAR/USDT, BEAR/BUSD, ETHBULL/USDT, ETHBULL/BUSD, ETHBEAR/USDT, ETHBEAR/BUSD, EOSBULL/USDT, EOSBULL//BUSD, EOSBEAR/USDT, EOSBEAR/BUSD, BNBBULL/USDT, BNBBULL/BUSD, BNBBEAR/USDT, BNBBEAR/BUSD, XRPBULL/USDT, XRPBULL/BUSD, XRPBEAR/USDT and XRPBEAR/BUSD.
Users can still trade, withdraw, or hold their tokens until the delisting. Keep in mind, these tokens still trade on FTX.
#Binance Will Delist All FTX Leveraged Tokens
From now until the delisting time you can:
– Trade out existing positions.
– Continue holding and be credited the equivalent value of your holdings in BUSD at the time of delisting.
— Binance (@binance) March 28, 2020
They are not designed for long term holding. They devalue over time when markets (underlying assets) fluctuate back and forth.
The main reason for delisting is that too many users don't understand them.
— CZ Binance 🔶🔶🔶 (@cz_binance) March 28, 2020