Announcements Gate.io to Remove Binance USD (BUSD) and Support BUSD Swap for USDT

Gate.io to Remove Binance USD (BUSD) and Support BUSD Swap for USDT

2023-11-30 05:46:57 UTC 16386 Read

[//]:content-type-MARKDOWN-DONOT-DELETE
Due to Paxos halting the minting of new BUSD tokens, Gate.io will delist the Binance USD (BUSD) trading market, including spot trading, perpetual futures trading, and quantitative trading.

**Details:**
1) If you have any in-progress trades in the futures trading market, please adjust your strategies in advance. Starting from December 4, 2023, 08:00 A.M. UTC, the BUSD/USDT futures trading market will only support "Reduce-only" mode.
2) On December 5, 2023, 08:00 A.M. UTC, Gate.io automatically settle open positions at the average index price in the half-hour before the futures trading stops. Any outstanding orders will be canceled automatically. If you have open positions in the futures market, please adjust your strategy and close your positions before December 5, 2023, 08:00 A.M. UTC to avoid automatic settlement.
3) On December 8, 2023, 06:00 A.M. UTC, Gate.io will close the deposit, withdrawal, and trading services for BUSD, including spot trading and quantitative trading, and execute token swaps for users. 
4) Users who have in-progress BUSD quantitative trading should adjust your trading strategies beforehand. Otherwise, the strategies will be terminated automatically before December 8, 2023, 06:00 A.M. UTC

Project team’s announcement: https://paxos.com/2023/02/13/paxos-will-halt-minting-new-busd-tokens/

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Gate.io Team
November 30,2023

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Gate.io to Remove Binance USD (BUSD) and Support BUSD Swap for USDT

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