Binance is cutting some XRP and ADA products

[cheezcarls]

Source: https://www.binance.com/en/feed/post/1405120619530

Okay so these 5 pairings will be gone after December 22nd:

XRP/BTC
XRP/ETH
XRP/BNB
ADA/ETH
ADA/USDT

But I am not sure about the other pairings though. As I have checked in Binance, currently XRP has 11 existing pairings and ADA has 10.

Since my cousin has XRP holdings in his Binance account, I think it’s time for him to move his XRP holdings to another wallet because of this latest move.

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

Would like to hear your thoughts about this guys. Thanks!

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[Makus]

This is a very terrible news for both XRP, ADA and binance it self. You can imagine the damage this news will effect on the binance exchange, I was hopping that after the CEO issue and fine given to binance to pay, that it would be all, but to my greatest surprise it seems the SEC are looking forward to pull the exchange down. We have all seen it, binance being the world most popular exchange being tossed to and fro by the SEC, I think this news alone will make lots of investors to cut ties with binance exchange.

[cryptoaddictchie]

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

Would like to hear your thoughts about this guys. Thanks!

I read it. Based on my understanding its only the mentioned pairing would be removed. Theres none mentioned about the usdt pairing. As Ive seen it, they cutting some alts pairing, and I also noticed that on p2p only usdt left for buy and sell and the alts has been removed. So your friends xrp still safe in my opinion but for advise, much better using a non custodial for storing those asset he have.

[Churchillvv]

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

It could also be that the new management might be trying to fix the issues that lead to the fines held on the exchange hence found XRP and ADA pairing as one so it has to be cut off but I don't think the token will be cut of totally from the exchange.

Since my cousin has XRP holdings in his Binance account, I think it’s time for him to move his XRP holdings to another wallet because of this latest move.

It's more advisable not to hold ones crypto assets on an exchange, your cousin moving his assets will be a good decision for him to a good wallet that will be more secured, he should look at list of non custodial wallets and choose one best for him.

  I was hopping that after the CEO issue and fine given to binance to pay, that it would be all, but to my greatest surprise it seems the SEC are looking forward to pull the exchange down.

Your not wrong either that the SEC are looking forward to pull the exchange down but maybe it's an assumption. I won't be surprised on any event that takes place on binance because if the CEO could be forced to resign then there is nothing impossible to happen.

[Kelward]

Did they give any reasons for the cutting off? This is not a good trend in the cryptocurrency market. I believe that they must have a good reason for their action, hopefully it's for the good of their customers. My trust level for exchanges is fast dwindling because of verious issues that trusted exchanges are currently facing. It's either that they have regulatory issues with some country, or some hackers has infiltrated their system and they're shut dow

Maybe the new Binance CEO is trying to reshuffle things for the good reputation of the exchange, perhaps the new measures is to make the exchange better, events in the nearest future will prove their intentions.

[Dunamisx]

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

Would like to hear your thoughts about this guys. Thanks!

I read it. Based on my understanding its only the mentioned pairing would be removed. Theres none mentioned about the usdt pairing. As Ive seen it, they cutting some alts pairing, and I also noticed that on p2p only usdt left for buy and sell and the alts has been removed. So your friends xrp still safe in my opinion but for advise, much better using a non custodial for storing those asset he have.

I think this is only a decision from Binance only and not applicable to to other currencies or exchanges, as you've said already, the safest practice is to move ones asset away from an exchange to a non custodial wallet, this is the only safe practice i understand of for now, when anything happens to an exchange or they implement a change, you will not be affected by any chance when you're independent on them.

[criptoevangelista]

I never quite understood the reason for removing cryptocurrency pairs

Wouldn't it be more interesting for the broker to maintain as many pairs as possible to make more profit from trading fees?

What is the reason for this? Do you have a time contract?

[kentrolla]

This would be disastrous news and not sure the motive behind this sudden move, had it been some other low liquidity coins we could have understood but XRP and ADA? Not sure about the exact reason but this will eventually lead to removal of these cryptos from Binance but there should be an strong reason to justify this.

Lately Binance has been in news for non so good reason and now removal of these pairs which may not benefit anyone. Are we witnessing downfall of Binance?

[sheenshane]

Here's a full announcement based on what I've found upon searching.

Not only on ADA and XRP, but also in some pairs of coins, and here's a complete set of removal of liquidity pools on Binance.
AAVE/BTC, ADA/ETH, ADA/USDT, ARB/BTC, BCH/BTC, DOT/BTC, DOT/USDT, ETH/DAI, FIL/BTC, LINK/ETH, LINK/USDT, LTC/BNB, LTC/BTC, LTC/ETH, LTC/USDT, MANA/BTC, MATIC/USDT, SAND/BTC, SOL/BTC, SOL/USDT, UNI/BNB, UNI/BTC, VET/USDT, XRP/BNB, XRP/BTC, XRP/ETH

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

Yes, it might be.
I didn't see saying delisted of such coins on exchange.  In fact, as the articles said.

"Users who hold positions in the above liquidity pools will automatically receive their deposited assets in their Spot wallets at 2023-12-22 04:00 (UTC). "

[nelson4lov]

I never quite understood the reason for removing cryptocurrency pairs

Wouldn't it be more interesting for the broker to maintain as many pairs as possible to make more profit from trading fees?

What is the reason for this? Do you have a time contract?

It depends:

• Volume: If the pair has failed to reach the volume requirement, then they'd be removed. Exchanges would only list a token if they stand to make bank of the fees if there's plenty of volume. When that volume dries up, it means no more profits for the exchange
• Regulations and legal scrutiny: Most times, assets like that gets removed because the underlying asset are under the radar of the government. As such, no exchange would want to keep it listed.

PS: This isn't the ADA/USDT, XRP/BTC pairs on spot but for Liquid Swap product and not the spot or derivatives pairs and contracts.

[JeffBrad12]

I never quite understood the reason for removing cryptocurrency pairs

Wouldn't it be more interesting for the broker to maintain as many pairs as possible to make more profit from trading fees?

What is the reason for this? Do you have a time contract?

its probably to improve efficiency, I guess mantaining pair requires a lot of resource and if its under utilized by the community it simlpy wasting their resources after all the recent trend already gives us many coin that binance probably are gonna be listing anyway. the thing is binance kept frequently listing new trending coins and I guess right now the pair stacked up too much they need to eliminate some that they consider to be not so popular.
considering that as mentioned above binance is also eliminating so many pair i guess binance just trying to keep the pairs they provided slim and instead trying to add more and more newer coin, probably they'd increase the rate of delisting of pair in the future after all they've got new CEO here, so they must be doing something different this time around.
also in the announcement binance clearly stated to concentrate the liquidity, they're trying to concentrate all the money from being divided into many pairs to just into one pair.

[batang_bitcoin]

I have a friend who's got XRP as well, I'm not just so sure if he's keeping them on Binance but hopefully he doesn't. But he talks about Binance so basically, this is a bad news for him. I don't have XRP but some bits of ADA, anyway, these two have got a lot of exchanges where they are listed so it's not a problem for the majority of its holders as long as the other exchanges that are known will keep it. Anyway, a big exchange such as Binance is gonna disappoint the holders of it this Christmas.

[btc78]

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

the pairings mentioned will be the ones you can’t trade coins with anymore they’re not going to be unlisted in binance they are announcing this so that those who have trading bots won’t be making any losses as binance is removing the pairs

[poodle63]

I have a friend who's got XRP as well, I'm not just so sure if he's keeping them on Binance but hopefully he doesn't. But he talks about Binance so basically, this is a bad news for him. I don't have XRP but some bits of ADA, anyway, these two have got a lot of exchanges where they are listed so it's not a problem for the majority of its holders as long as the other exchanges that are known will keep it. Anyway, a big exchange such as Binance is gonna disappoint the holders of it this Christmas.

its not like binance is delisting them anyway, they are just trying to reduce the pairs, the people that have opened up position will get their money back in the wallet so that they could be trading in different pair with the same coin, so its not truly a delisting after all I can't imagine binance losing that trading volume because those coins mentioned are definitely having among the highest trading volume its just some trading volume scattered around as explained above.

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

the pairings mentioned will be the ones you can’t trade coins with anymore they’re not going to be unlisted in binance they are announcing this so that those who have trading bots won’t be making any losses as binance is removing the pairs

thats true its not delisting its just removing some pair, not a big deal to be honest, it seems some people are having impression that as if binance decided out of the blue to delist this coin meanwhile thats not true, even though i would worry more putting my money in binance since they got entangled into some problem that still haven't solved to this day, if people are truly concerned they should be changing exchange and get peace for good because there might be less problematic platform.

[icalical]

Source: https://www.binance.com/en/feed/post/1405120619530

That one is post by user not by the Binance Official, I was trying to find the any official posts regarding this delisting of several major crypto pairs, but I can only similar post by Users, most of them said that they get the info from the Binance TwitterX account, but I can't find the Binance Official tweet either, so I can't confirm if the news is true. XRP and ADA are big crypto, and USDT & BTC pairs must be one of their most popular pairs, removing those from their platform wouldn't be a good idea I guess.

[bluebit25]

Correct me if I am wrong, but only certain pairings will be removed? Or XRP and ADA will be totally out of Binance?

Since XRP ADA are all major cryptocurrencies, the issuance of a delisting notice for the designated trading pair is a separate service issue on Binance, so it does not have much impact on holdings there, but imo like the OP's suspicion, it could also be part of the cause of the volatility with that cryptocurrency. But honestly, to me they're too big to even think about the risks, although we've seen volatility with XRP in the past when it's been generally pushed, and if you want, you can also bring it up in advice to move assets to places you think are safer than staying on Binance.