Two XRP-Linked Tokens Delisted by Binance: Here's What Happened

Binance delists two XRP-linked tokens in unexpected move xrparmy xrpcommunity xrpl xrpledger xrpthestandart ripple ripplesec $xrp

In the event that users still possess these leveraged tokens after the delisting deadline, the exchange has outlined its plan to convert them to USDT, a stablecoin pegged to the U.S. dollar. The conversion process will be based on the net asset value of the tokens at the time of delisting, with the resulting stablecoins distributed to the respective users' accounts.

The leveraged tokens under scrutiny are XRPDOWN and XRPUP, with a combined issuance of 10.3 million and 11.14 million, respectively. These tokens have provided Binance traders with the ability to take positions on , while amplifying their exposure to market movements. By utilizing these leveraged tokens, traders can potentially increase their gains or losses without the risk of liquidation.Binance has refrained from disclosing any specific reasons for the removal of XRPUP and XRPDOWN from its offerings. One can speculate that the decision is influenced by regulatory uncertainty surrounding XRP itself.

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