Binance to delist crypto AI spot trading pairs
Binance, a premier marketplace for digital currencies, has publicized its decision to eliminate AI crypto spot trading pairs, specifically targeting AI tokens Ocean Protocol (OCEAN) and SingularityNET (AGIX).
As per a formal statement, Binance is set to withdraw and halt all spot trading activities for OCEAN and AGIX on the 1st of July, 2024, at 3:00 a.m. (UTC). The platform will also cease deposits and withdrawals for Ocean Protocol (OCEAN) and SingularityNET (AGIX) on the same date, at 3:30 a.m. (UTC).
Furthermore, Binance will discontinue Trading Bot services for these particular spot trading pairs concurrently.
This move coincides with Binance’s endorsement of the token amalgamation of Ocean Protocol (OCEAN) and SingularityNET (AGIX) into Fetch.ai (FET), under the new name, Artificial Superintelligence Alliance.
The trading pairs set for delisting include AGIX/BTC, AGIX/FDUSD, AGIX/TRY, AGIX/USDT, OCEAN/BNB, OCEAN/BTC, OCEAN/TRY, and OCEAN/USDT.
Binance has indicated that it will automatically cancel all trading orders post the cessation of trading for the affected pairs.
Moreover, Binance Futures will terminate all active positions and execute an automatic settlement for the OCEANUSDT and AGIXUSDT USDⓈ-M Perpetual Contracts on June 25, 2024, at 9:00 a.m. (UTC), followed by their delisting post-settlement.
On June 26, 2024, Binance Margin will cease listing the AGIX/BTC, AGIX/USDT, OCEAN/BTC, and OCEAN/USDT cross and isolated margin pairs at 6:00 a.m. (UTC). From this date, all OCEAN and AGIX holdings in Cross Margin Wallet within the Portfolio Margin account will automatically convert to USDT.
By the 1st of July, 2024, at 3:00 a.m. (UTC), Binance will exclude OCEAN and AGIX from its list of accepted currencies on Binance Pay. Subsequently, on July 28, Binance will halt the issuance of OCEAN or AGIX gift cards.
Binance Auto-Invest will expunge OCEAN and AGIX from its offerings after June 18 at 3:00 a.m. (UTC). Following this, on June 20 at 3:00 a.m. (UTC), the Buy & Sell Crypto feature will no longer list OCEAN, AGIX, or any related pairs.
Lastly, on June 25 at 9:00 a.m. (UTC), the Binance Funding Rate Arbitrage Bot will terminate all arbitrage strategies and proceed with an automatic settlement on the OCEANUSDT and AGIXUSDT symbols.
