Crypto exchange major Binance is set to remove most of its FTT trading pairs amid the crash of the token’s issuer, FTX.
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In a tweet on its official Twitter account, Binance said it will pull trades on FTT to and from BNB, Bitcoin, Ether, and USD Tether. The change will be effective 12:30 p.m. SGT on November 15.
However, the company will keep support for the FTT/Binance USD trading pair.
Binance said the change comes after a recent review of FTT to ensure that the token meets its standards “to protect our users.” The company advised users to update trading strategies for FTT as it will end such services for the spot trading pairs during the same time.
The development follows a report saying that the assets of FTX’s sister company, Alameda Research, were in FTT and not other crypto tokens or fiat currency. Binance tried to swoop in and acquire FTX, but it ultimately exited from the deal.
See also: Hodlnaut assets hit by FTX debacle
Editing by Eileen C. Ang
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