1. BITBILIHome
  2. Article

Binance tightens asset standards: PEPE excluded from borrowable assets

• 84 views

TL;DR Breakdown

  • Binance ends PEPE collateral support on the Flexible Loan platform, prioritizing reliable assets.
  • Users must repay PEPE loans promptly before June 21, 2023, to avoid disruptions.
  • Binance’s decision protects users from potential risks associated with less reputable cryptocurrencies.

Binance, the leading cryptocurrency exchange, has recently announced a major decision that could have significant implications for its users. Starting from June 21, 2023, at 08:00 (UTC), Binance will cease accepting PEPE as collateral on its Flexible Loan platform. This move is part of Binance’s ongoing commitment to providing its customers access to reliable, high-quality assets.

The decision to delist PEPE comes from Binance’s dedication to maintaining a robust and trustworthy platform. PEPE, unfortunately, fails to meet the necessary criteria to be considered a dependable asset for collateral. Consequently, Binance has decided to exclude it from the Flexible Loan platform, preventing users from borrowing PEPE.

Users must take note of this announcement and take action if they have any outstanding loans involving PEPE. All loans must be repaid before the specified due date to avoid any potential disruptions in the service. Borrowers should know that a 2% liquidation charge will apply to liquidation.

Furthermore, Binance requires users to repay their Flexible Loans using the same cryptocurrency they borrowed. Therefore, individuals who have borrowed PEPE must ensure they have enough PEPE funds available to meet their repayment obligations promptly.

This decision by Binance underscores the importance of offering customers access to reliable and trustworthy assets. By removing PEPE from its Flexible Loan platform, Binance aims to protect its users from potential risks associated with less reputable cryptocurrencies.

While this announcement may disappoint some users utilizing PEPE as collateral, Binance’s commitment to maintaining a secure and reliable trading environment takes precedence. Binance continues to assess and evaluate various assets to ensure they meet its stringent standards, ultimately safeguarding the interests of its user base.

Binance’s decision to exclude PEPE as collateral on its Flexible Loan platform, effective June 21, 2023, demonstrates the exchange’s dedication to providing customers with access to high-quality assets.

Users are urged to settle any outstanding loans involving PEPE promptly to avoid service disruptions, and it’s important to note that liquidation cases will incur a 2% charge. Binance’s ongoing efforts to prioritize reliability and security are vital in the rapidly evolving cryptocurrency landscape.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Binance tightens asset standards: PEPE excluded from borrowable assets

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月19日 04:17
Next 2023年6月19日 05:53

Related articles

  • Binance’s power play with Binance.US exposed

    TL;DR Breakdown Binance’s senior executive, Guangying Chen, was authorized to operate five bank accounts belonging to Binance.US, indicating a strong control by Binance over its U.S. affiliate. Despite Binance.US’s claims of operational independence, the revealed financial control raises questions about the actual autonomy of the American affiliate. U.S. authorities, including the Commodity Futures Trading Commission, are closely monitoring Binance’s U.S. operations amidst allegations of evasion of commodity laws. The labyrinthine relationship between the colossal cryptocurrency exchange, Binance, and its ostensibly separate U.S. affiliate, Binance.US, has come under renewed scrutiny, with new evidence demonstrating the tight control the crypto exchange has exerted over its U.S. counterpart. Banking documents from 2019 and 2020 indicate that a senior executive from Binance, Guangying Chen, wielded authority over the financial activities of Binance.US, adding a new layer of complexity to an already intricate relationship between the two entities. Inside the power dynamics Chen, a close associate of Binance CEO Changpeng Zhao, was authorized by U.S. lender Silvergate Bank to operate five bank accounts linked to Binance.US. This authorization enabled her, along with her deputies, to…

    Article 2023年6月10日

  • OnlyFans see record profits as owner rakes in $485 million amid Ethereum investment

    TL;DR Breakdown OnlyFans retains £1 for every £4 earned by creators, leading to significant earnings for many, with one creator revealing a £4 million income. OnlyFans star, Eliza Rose Watson, faced criticism for billboard ads deemed inappropriate by some, but the UK advertising regulator found the imagery non-objectifying. Description In a year marked by unprecedented growth for online adult content platforms, OnlyFans, the British adult content subscription service, has emerged as a dominant force. The company’s revenues surpassed the $1 billion mark for the first time in 2022, reflecting a significant surge in demand for its services. Predominantly focused on pornographic material, the platform … Read more In a year marked by unprecedented growth for online adult content platforms, OnlyFans, the British adult content subscription service, has emerged as a dominant force. The company’s revenues surpassed the $1 billion mark for the first time in 2022, reflecting a significant surge in demand for its services. Predominantly focused on pornographic material, the platform has seen an influx of both content creators and subscribers. Contents hide 1 Surge in popularity: OnlyFans’ billion-dollar…

    Article 2023年8月27日

  • Tether makes a move into the Argentine market

    TL;DR Breakdown Tether has partnered with KriptonMarket to enter the Argentine market scene. The partnership will provide swift payments for market transactions. Argentinians now have the option to purchase dairy produce using Tether’s USDT stablecoin at the Central Market of Buenos Aires, one of Latin America’s largest distributors of fruits and vegetables. The introduction of this payment method is the result of a collaboration between Tether, the issuer of the stablecoin, and KriptonMarket, an on-/off-ramp platform. Tether partners with KriptonMarket Through this partnership, businesses operating in the Central Market will be able to accept payments in Tether’s USDT, settle bills, and even allocate a portion of employee salaries in the stablecoin. The Central Market caters to the needs of over 12 million people each month and hosts more than 500 wholesale companies. It is also a significant employer, with a workforce of over 2,000 individuals. The utilization of Tether’s USDT as a payment option provides several advantages. It reduces intermediation costs and offers users a payment solution pegged to the United States dollar, making it less vulnerable to market fluctuations….

    Article 2023年5月21日

  • Christine Lagarde issues warning on enduring inflation risks owing to falling global economy

    TL;DR Breakdown Christine Lagarde, the leader of the European Central Bank, has cautioned about the potential enduring consequences of the recent global economic upheaval. Lagarde’s views align with Jay Powell’s, the chairman of the US central bank, who cautioned that the Fed still grapples with uncontrolled inflation. She further countered concerns about the German economy by stating that it was not in a state of disrepair, affirming that efforts were being made to address its issues. Description Christine Lagarde, the leader of the European Central Bank, has cautioned about the potential enduring consequences of the recent global economic upheaval, addressing the US Federal Reserve annual conference in Jackson Hole, Wyoming. She emphasized that this turbulence could result in a prolonged elevation of inflationary pressures beyond the typical levels, thus intricately complicating the … Read more Christine Lagarde, the leader of the European Central Bank, has cautioned about the potential enduring consequences of the recent global economic upheaval, addressing the US Federal Reserve annual conference in Jackson Hole, Wyoming. She emphasized that this turbulence could result in a prolonged elevation of…

    Article 2023年8月26日

  • Bitcoin bulls are in a tough spot as BTC risks returning to $28k

    TL;DR Breakdown Bitcoin Bulls anticipate a 0.2% monthly increase and a 3.3% year-over-year increase in the U.S. Consumer Price Index for July. Market analysts point out that BTC recovery has rather been stagnant and bulls have a hand to play in stabilizing the market. Bitcoin analysts argue that a break below $25,000 would be the end of the 2023 bull market. Total BTC long liquidations on the day exceeded $10.5 million. Description Bitcoin has seen a rollercoaster year since the crypto winter in 2022. According to Binance charts, the live price of Bitcoin stands at $ 29,340.32 per (BTC / USD) with a current market cap of $ 570.55B. BTC is +1.64% in the last 24 hours, and it remains clear that BTC bulls have a lot … Read more Bitcoin has seen a rollercoaster year since the crypto winter in 2022. According to Binance charts, the live price of Bitcoin stands at $ 29,340.32 per (BTC / USD) with a current market cap of $ 570.55B. BTC is +1.64% in the last 24 hours, and it remains clear that…

    Article 2023年8月9日
TOP