Cryptocurrency exchange Binance has announced that it will delist Terra’s LUNA margin and trading pairs and that of UST following the token crash.
The spot trading pairs that will be removed from the exchange include LUNA/BTC, LUNA/AUD, LUNA/BNB, LUNA/USDT, and pairs of multiple fiat currencies.
The exchange adds that it will stop the trading for the UST stablecoin, including the BTC/UST, LUNA/UST, WTH/UST, BNB/UST, and UST/USDT. The company has also halted the BUSD-margined perpetual contract LUNA/BUSD.
The announcement came after LUNA sank to $0.00001944, losing 100% of its value and increasing tokens to over 6.5 trillion. The event was triggered by a loss of its stablecoin peg.
TerraUSD, which once rose to become the third-largest stablecoin, is experiencing turbulence, trading around $0.168. The token is trading even lower in some exchanges.
The Terra blockchain has been formally halted at block 7607789. Terra says that the move aims to enable validators to come up with a plan to reconstruct the protocol.
Security agencies in South Korea are reportedly investigating a report that some unknown individual visited the home of Terraform Labs CEO, Do Kwon. The Executive’s family has requested to be provided with personal protection.
Updates:— Binance (@binance) May 13, 2022
🔸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