Binance recently announced that it will remove several perpetual futures contracts from its listing. The affected contracts include STP, Status, MovieBlock, Radworks, and Convex. This decision is part of Binance’s efforts to stay in line with market conditions and enhance trading security.

Traders who are currently involved in these contracts are advised to review their trading strategies to prevent potential liquidation of their positions, especially when it comes to leverage settings. The removal of these contracts will come into effect on May 13, after which Binance will no longer allow the opening of new positions on contracts for STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT.

Binance Futures Trading may also implement additional protective measures without prior notice, such as changes to leverage limits, position values, maintenance margins, and other adjustments to ensure a safe trading environment for its users.

In other news related to Binance, founder Changpeng Zhao was sentenced to four months in prison for his involvement in money laundering and other illegal activities. This sentence was lighter than expected, as the prosecution initially requested 36 months in prison. The verdict on Changpeng Zhao was postponed for more than two months before being announced on April 30.

For more updates and news about the cryptocurrency world, visit Global Crypto News.

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