Binance Suspends LUNA and UST Trading Pairs Citing Protection of Users

Binance, the world’s largest crypto exchange by volume, reported notice of removing margin and spot trading pairs.

Source: Twitter

Updates:
🔸Notice of removal of some margin and spot trading pairs at 12:40am UTC, May 13, 2022.
🔸Adjusting of tick size for spot trading pair at 12:40am UTC, May 13, 2022. https://t.co/jijqNqaTdJ

— Binance (@binance) May 13, 2022

UST USD down -55.42%, LUNA USD down -89.24%

The crypto exchange will remove and stop trading, close users’ positions, perform an automatic settlement, and cancel all pending orders.

The spot trading pairs to be removed from the exchange include LUNA/BTC, LUNA/BIDR, LUNA/AUD, LUNA/ETH, LUNA/BNB, LUNA/GBP, LUNA/BRL, LUNA/TRY, and LUNA/EUR.

Binance will also stop trading activity for the UST stablecoin, removing the following pairs: LUNA/UST, BTC/UST, ETH/UST, BNB/UST, and UST/USDT. It also removed the BUSD-margined perpetual contract LUNA/BUSD.

The move comes after LUNA plummeted to zero, or $0.00001944. The token has not lost 100%, and the circulating supply is a whopping 6.5 trillion tokens.