Binance removes trading pairs for FTT and SRM tokens
Binance has announced the removal of several trading pairs. Among them are pairs for the Serum ecosystem native token SRM, which is closely linked to bankrupt crypto exchange FTX and Alameda Research. Previously, trading pairs for FTX Token (FTT) were also removed.
Serum is a decentralized exchange (DEX) built on the Solana blockchain. SRM is the native token of the Serum ecosystem. FTX is one of the founders of this project.
The announcement published on the official website of the exchange indicates all trading pairs that will be removed. The company strongly advises its clients to update their trading strategy in order to avoid any potential losses.
Users will still be able to trade these assets in trading pairs available on the exchange. If you do not have a Binance account yet, register it with us now and get additional benefits from VipDeposits.
This month, Binance intended to buy FTX, but then refused the deal due to improper handling of its clients’ funds and possible investigations against the bankrupt exchange by the authorities. Binance representatives noted that in a few years the crypto system will become more sustainable, and the competitive market will drop out companies who use clients’ funds in an inappropriate way.
Binance has also decided to increase the size of its secure asset fund for users to $1 billion amid crypto market instability.