UpGate

Tag: Exchanges

  • BOBBOBUSDT Perpetual Contract Delisted

    BOBBOBUSDT Perpetual Contract Delisted

    Bybit to Delist BOBBOBUSDT Perpetual Contract

    Cryptocurrency exchange Bybit announced that it will delist the BOBBOBUSDT Perpetual Contract on July 27, 2026, at 9:00 AM UTC.

    Following the delisting, trading for the BOBBOBUSDT Perpetual Contract will cease. All active and conditional orders associated with this contract will be automatically canceled.

    Furthermore, any open positions in the BOBBOBUSDT Perpetual Contract will be automatically closed. The settlement price for these positions will be determined by the average index price recorded in the 30 minutes leading up to the delisting.

    The BOBBOBUSDT Perpetual Contract will also be removed from Bybit’s Trading Bots service and will no longer be supported. In the realm of Copy Trading, all unfilled orders for the BOBBOBUSDT Perpetual Contract will be canceled automatically.

  • Binance Announces Service Suspensions and Trading Pair Delistings

    Binance Announces Service Suspensions and Trading Pair Delistings

    Binance, the world’s largest cryptocurrency exchange, is implementing several operational adjustments, including temporary suspensions for Tron (TRX) and Zcash (ZEC) deposits and withdrawals, alongside the delisting of numerous trading pairs. These changes are scheduled to take effect on July 23 and July 24, respectively.

    Service Suspensions for Network Operations

    On July 23, Binance will temporarily halt TRX deposits and withdrawals for approximately one hour to conduct wallet maintenance on the Tron Network. Trading for TRX will continue uninterrupted. This measure follows a recent, similar maintenance period for Bitcoin deposits and withdrawals.

    Furthermore, Binance will suspend ZEC deposits and withdrawals to accommodate an upcoming Zcash hard fork. This network upgrade is anticipated around block height 3,428,143, approximately July 28, 2026, at 13:00 UTC. ZEC trading will not be affected during this period. Binance has a history of supporting network upgrades for various cryptocurrencies, including Ethereum and Cardano, through such temporary service adjustments.

    Trading Pair Delistings for Market Quality

    Effective July 24, Binance will delist several spot and margin trading pairs. The affected spot trading pairs are ACX/USDC, ALGO/BTC, CVC/USDC, LPT/USDC, ONG/BTC, RVN/USDC, and XRP/BNB. Additionally, the exchange will delist cross margin pairs CYBER/USDC, DOLO/USDC, PIXEL/USDC, and STEEM/USDC, as well as isolated margin pairs DOLO/USDC, PIXEL/USDC, and STEEM/USDC.

    Binance stated that these delistings are part of its continuous review process for listed assets, aimed at protecting users and maintaining a high-quality trading market. The exchange evaluates assets based on criteria such as team commitment, development activity, trading volume, liquidity, and network stability. In recent months, Binance has delisted other assets, including Alchemix (ALCX), Ardor (ARDR), NFPrompt Token (NFP), Marlin (POND), Contentos (COS), Dar Open Network (D), Highstreet (HIGH), and MOBOX (MBOX).

    Binance emphasized that such operational adjustments are common and typically have minimal impact on clients. While recent announcements have not demonstrably affected the prices of the involved cryptocurrencies, there remains uncertainty regarding the precise impact of these specific trading pair delistings, particularly in light of past instances where delistings of other assets coincided with significant price declines. The exact duration of the ZEC deposit and withdrawal suspension beyond the hard fork event is also not explicitly detailed.

    The exchange assured users that it would manage all technical requirements associated with these service suspensions and delistings.

    Why This Matters

    Binance’s proactive approach to maintaining network stability and market quality through service suspensions and trading pair delistings is a key aspect of its operational strategy. As the world’s largest cryptocurrency exchange, these actions, while routine, affect multiple digital assets and underscore the platform’s commitment to user protection and adherence to industry standards. The historical context of similar events suggests minimal disruption, yet the specific impact of these delistings remains an area of observation for market participants.

    Broader Context

    Source materials place the factual news in this context: The world’s largest cryptocurrency exchange will temporarily suspend certain services later this month.

  • New Listing: XLKUSDT Perpetual Contract with 20x Leverage

    New Listing: XLKUSDT Perpetual Contract with 20x Leverage

    Bybit Launches XLKUSDT Perpetual Contract with Up to 20x Leverage

    Cryptocurrency exchange Bybit has announced the listing of its XLKUSDT Perpetual Contract, allowing traders to speculate on the price movements of the State Street Technology Select Sector SPDR ETF (XLK) using Tether (USDT) as the settlement asset. Trading for the new contract is now live, offering leverage of up to 20 times.

    The XLKUSDT Perpetual Contract is accessible through Bybit’s suite of Futures bots, including Futures Grid, Futures Martingale, and Futures Combo.

    Key details of the XLKUSDT Perpetual Contract include:

    • Underlying Asset: State Street Technology Select Sector SPDR ETF (XLK)
    • Settlement Asset: USDT
    • Tick Size: 0.01
    • Maximum Leverage: 20x
    • Capped Funding Rate: 2.5%
    • Funding Fee Settlement Interval: Every 8 hours
    • Trading Hours: 24/7
  • Spot Trading Pairs Delisted July 28, 2026

    Spot Trading Pairs Delisted July 28, 2026

    Bybit to Delist Several Spot Trading Pairs

    Cryptocurrency exchange Bybit announced it will delist eleven Spot trading pairs on July 28, 2026, at 08:00:00 UTC. The decision, made in accordance with Bybit’s Token Management Rules and aimed at ensuring user interests and a secure trading environment, follows a review of market performance, liquidity, and trading volume.

    Affected Trading Pairs

    The following Spot trading pairs will be removed from the platform:

    • ETHMNT
    • SOLMNT
    • MNTUSDE
    • BBSOLMNT
    • DOGEMNT
    • XRPMNT
    • ADAMNT
    • SUIMNT
    • LTCMNT
    • VIRTUALMNT
    • BRETTUSDC

    Important Considerations for Users

    Bybit has outlined several key points for users holding positions in these pairs:

    Order Cancellation: Users are advised to cancel any outstanding orders for the delisted pairs before the trading cessation time. Any open orders remaining after the deadline will be automatically removed by the system.

    Trading Bots: Active Spot Grid Bots and DCA Bots that involve these tokens will be automatically terminated. Users are encouraged to close their bots in advance to effectively manage their assets.

    Token Availability: The delisting of a specific Spot trading pair does not impact the availability or trading of the underlying tokens on Bybit. These tokens can still be traded through other available pairs.

    Deposits and Withdrawals: Deposits and withdrawals for the underlying tokens will continue to be supported unless otherwise announced.

  • Binance Boosts VIP Program: Lower Threshold, OTC Volume Now Counts

    Binance Boosts VIP Program: Lower Threshold, OTC Volume Now Counts

    Binance Adjusts VIP Program to Enhance Accessibility and Reward Trading Activity

    Binance is implementing further enhancements to its VIP Program, aiming to better recognize and reward its most valued users. Following adjustments to the VIP program criteria in March 2026, two new updates are being introduced to make VIP status more attainable and to ensure all forms of trading activity are fairly considered for VIP qualification.

    VIP 3 Asset Holding Threshold Lowered

    The asset holding threshold for VIP 3 has been reduced from $3,000,000 to $1,000,000. This change is designed to make the VIP fee rate for VIP 3 holders more competitive and to facilitate a smoother progression for users advancing through the VIP tiers.

    OTC Spot Trading Volume Now Multiplied

    Over-the-Counter (OTC) Spot Trading Volume will now count at a 4x multiplier towards the Spot Trading Volume metric for VIP qualification. This means that $1 in OTC Spot Trading Volume will be recognized as $4 towards the Spot Trading Volume threshold. The previous cap on OTC VIP qualification at VIP 4 has been lifted to VIP 9, aligning it with the full range of Spot and Futures trading pathways. The legacy OTC-only trading path has been retired.

    These updates are effective from July 21, 2026, at 08:00 (UTC).

    Binance Affiliate Program Transition

    To ensure a seamless transition and protect the existing interests of affiliates, Binance will offer a three-month grace period following the VIP program adjustments. During this period, affiliate commissions will continue to be calculated based on the previous VIP 3 Holder threshold. Commission distributions under this arrangement will be made at the end of the three-month grace period.

    This transition arrangement applies only to existing referrals. New referrals invited after July 21, 2026, at 08:00 (UTC) will not be eligible for coverage under this arrangement.

    From October 21, 2026, at 08:00 (UTC) onward, commission distributions will be calculated in accordance with the standard VIP-level rules.

    Expanded Eligibility and VIP Tiers

    The adjustment to the OTC VIP cap means that more users actively participating in both Spot and OTC trading will be able to qualify for VIP status sooner. OTC traders can now upgrade beyond VIP 4, up to VIP 9.

    To qualify for any VIP tier, users must meet the BNB Balance requirement and satisfy at least one of the following criteria: Spot Trading Volume, Derivatives Trading Volume, Wallet Assets, or 30-Day Average Net Borrowing.

    The updated VIP tier requirements are as follows:

    | VIP Level | BNB Balance | 30-Day Spot Trade Volume (USD) (OTC 4x Multiplier) | 30-Day Futures Trade Volume (USD) | Asset Holdings (inc. Earn and BNB Holdings) | 30-Day Net Borrowing (USD) |
    |—|—|—|—|—|—|
    | VIP 1 | ≥ 5 | ≥ 1,000,000 | ≥ 5,000,000 | ≥ 100,000 | ≥ 100,000 |
    | VIP 2 | ≥ 25 | ≥ 5,000,000 | ≥ 10,000,000 | ≥ 200,000 | ≥ 500,000 |
    | VIP 3 | ≥ 100 | ≥ 20,000,000 | ≥ 50,000,000 | ≥ 1,000,000 | ≥ 2,000,000 |
    | VIP 4 | ≥ 500 | ≥ 75,000,000 | ≥ 600,000,000 | ≥ 6,000,000 | ≥ 10,000,000 |
    | VIP 5 | ≥ 1,000 | ≥ 150,000,000 | ≥ 1,000,000,000 | ≥ 50,000,000 | ≥ 20,000,000 |
    | VIP 6 | ≥ 1,750 | ≥ 400,000,000 | ≥ 2,500,000,000 | ≥ 100,000,000 | ≥ 40,000,000 |
    | VIP 7 | ≥ 3,000 | ≥ 800,000,000 | ≥ 5,000,000,000 | ≥ 200,000,000 | ≥ 65,000,000 |
    | VIP 8 | ≥ 4,500 | ≥ 2,000,000,000 | ≥ 12,000,000,000 | ≥ 500,000,000 | ≥ 120,000,000 |
    | VIP 9 | ≥ 5,500 | ≥ 4,000,000,000 | ≥ 25,000,000,000 | ≥ 1,000,000,000 | ≥ 160,000,000 |

    Notes:

    • There are no changes to VIP trading fees.
    • Spot Trading Volume encompasses Spot, Margin, Convert, Copy Trading, Trading Bots, Stocks, and bStocks trading volume.
    • Wallet Assets refer to the total USD value of assets held in a user’s Binance Wallet.
    • 30-Day Average Net Borrowing refers to the daily average net borrowing volume on Binance Loans over the trailing 30-day period.
    • Sub-account volume is combined with the master account for VIP qualification.

    These updates will take effect on July 21, 2026, at 08:00 (UTC). Users who qualify under the new criteria will be automatically upgraded daily at 08:00 (UTC) to the corresponding VIP tier. If a user qualifies under multiple criteria, their VIP level will reflect the highest level they meet. Users can view their latest VIP level in the My VIP Mobile Hub.

  • USDⓈ-M Perpetual Futures Tick Size Updates

    USDⓈ-M Perpetual Futures Tick Size Updates

    Binance to Adjust Tick Sizes for USDⓈ-M Perpetual Futures Contracts

    Binance announced it will adjust the tick size, or the minimum price increment, for several USDⓈ-M Perpetual Futures Contracts. The changes are aimed at enhancing market liquidity and improving the user trading experience.

    Tick Size Adjustments

    The adjustments will be implemented on specific dates and times, affecting various trading pairs.

    On July 21, 2026, at 06:30 (UTC), the tick size for GMTUSDT will change from 0.00001 to 0.000001.
    At 06:40 (UTC) on the same day, COTIUSDT will see its tick size adjusted from 0.00001 to 0.000001.
    Later, at 06:50 (UTC), BATUSDT’s tick size will be reduced from 0.0001 to 0.00001.
    DOTUSDT’s tick size will be adjusted from 0.001 to 0.0001 at 07:00 (UTC).
    At 07:10 (UTC), ARPAUSDT’s tick size will shift from 0.00001 to 0.000001.
    Finally, at 07:20 (UTC), ALGOUSDT’s tick size will be modified from 0.0001 to 0.00001.

    The following day, July 22, 2026, at 03:00 (UTC), several contracts will have their tick sizes adjusted:
    GWEIUSDT: from 0.0001 to 0.00001
    TRIAUSDT: from 0.00001 to 0.000001
    SAFEUSDT: from 0.0001 to 0.00001
    HOMEUSDT: from 0.00001 to 0.000001
    CTRUSDT: from 0.00001 to 0.000001
    ACTUSDT: from 0.00001 to 0.000001

    Trading Suspension and Impact

    The tick size adjustments will not affect general USDⓈ-M Futures trading operations, with the exception of the specific contracts listed for adjustment.

    However, the trading function for USDⓈ-M GMTUSDT, COTIUSDT, BATUSDT, DOTUSDT, ARPAUSDT, and ALGOUSDT Perpetual Futures Contracts will be temporarily suspended during their respective adjustment periods. These suspensions are scheduled for one minute, starting at the times indicated for each contract’s tick size change.

    During these brief suspension windows, users will be unable to place new orders, cancel, or modify existing orders for the affected contracts. The status of these contracts will change from “TRADING” to “PENDING_TRADING.” API users can query the latest status using the GET /fapi/v1/exchangeInfo endpoint.

    The tick size changes will also be reflected in API data. API users are advised to use GET /fapi/v1/exchangeInfo to retrieve the most current tick size information. Further details and updates can be found in the Binance API Changelog.

    Importantly, existing orders will not be impacted by the tick size update. Orders placed before the adjustment will continue to be matched using the original tick size.

    This announcement is made in accordance with Binance Exchange Rule 17. Traders are encouraged to review the Trading Parameters for comprehensive details and to adjust their trading strategies accordingly to mitigate any potential impact.

  • FTX to Distribute $900 Million to Creditors

    FTX to Distribute $900 Million to Creditors

    FTX to Distribute Another $900 Million to Creditors

    FTX, the once-dominant cryptocurrency exchange, announced yesterday that it will commence its fifth creditor distribution at the end of this month, pushing total announced repayments past $10 billion nearly four years after its collapse.

    The upcoming disbursement amounts to $900 million, aligning with the company’s Chapter 11 reorganization plan. According to a press release from the firm, the distribution is set to begin on July 31. Eligible creditors are expected to receive their funds through BitGo, Kraken, or Payoneer within three business days. This repayment specifically applies to creditors with allowed claims in FTX’s Convenience and Non-Convenience Classes who had completed the necessary procedures by June 16.

    The exact amount each creditor receives will vary by class. Users of FTX’s global and U.S. exchanges (ftx.com and FTX US) will see an additional 9% under Class 5a, bringing their cumulative recovery to 105% of the value of their approved claims.

    General unsecured creditors and holders of crypto loan claims will each receive an incremental 3%, with their total expected to reach 103%. Convenience-class creditors, typically representing smaller customer claims, will receive a cumulative 120% of their approved claims following this latest repayment.

    The defunct exchange also plans to distribute $18 million to eligible preferred shareholders on July 31, bringing the total payments from the separate Preferred Shareholder Remission Fund Trust to $95 million.

    It is important to note that these repayment figures do not necessarily mean customers have been made whole in cryptocurrency terms. Claims were assessed in U.S. dollar terms based on crypto prices around FTX’s bankruptcy in November 2022, prior to significant price rallies for most of the involved assets.

    Consequently, receiving 105% or 120% of initial claims in U.S. dollars may still represent a substantially lower value than the current market price of the cryptocurrency assets held on the platform at the time of its collapse. For example, Bitcoin was trading around $20,000 when FTX imploded. Despite subsequent corrections from its all-time high in October 2025, it remains more than 200% higher.

    Sam Bankman-Fried, FTX’s former CEO and widely considered responsible for its rapid downfall, was convicted in 2023 on seven counts of fraud and conspiracy related to the misappropriation of over $8 billion in customer funds.

    He remains incarcerated. Bankman-Fried had sought clemency, particularly after U.S. President Donald Trump issued pardons to Changpeng Zhao and Arthur Hayes. However, in a unanimous vote earlier this week, the Senate resolved that “under no circumstances should Samuel Bankman-Fried receive executive clemency, including a pardon, or commutation.”

  • IONQUSDT Perpetual Contract Launched with 20x Leverage

    IONQUSDT Perpetual Contract Launched with 20x Leverage

    Bybit Launches IONQUSDT Perpetual Contract

    Cryptocurrency exchange Bybit has announced the listing of the IONQUSDT Perpetual Contract, allowing users to trade with up to 20x leverage.

    The new contract is also accessible through Bybit’s suite of Futures bots, including Futures Grid, Futures Martingale, and Futures Combo.

    The IONQUSDT Perpetual Contract is based on the underlying asset Ionq, Inc. (IONQ) and settled in USDT. Key trading parameters include a tick size of 0.01, a maximum leverage of 20x, and a capped funding rate of 2.5%. Funding fees will be settled every 8 hours, and trading will be available 24/7.

    Further details on the IONQUSDT Perpetual Contract are as follows:

    • Underlying Asset: Ionq, Inc. (IONQ)
    • Settlement Asset: USDT
    • Tick Size: 0.01
    • Maximum Leverage: 20
    • Capped Funding Rate: 2.5%
    • Funding Fee Settlement Interval: Every 8 hours
    • Trading Hours: 24/7
  • APLDUSDT Perpetual Contract Launches with 20x Leverage

    APLDUSDT Perpetual Contract Launches with 20x Leverage

    Bybit Launches APLDUSDT Perpetual Contract, Offering Up to 20x Leverage

    Cryptocurrency exchange Bybit has announced the listing of the APLDUSDT Perpetual Contract, allowing traders to engage with the underlying asset, Applied Digital Corporation (APLD), with leverage of up to 20 times.

    The new contract is also accessible through Bybit’s suite of Futures bots, including Futures Grid, Futures Martingale, and Futures Combo.

    The APLDUSDT Perpetual Contract utilizes USDT as its settlement asset. Key specifications for the contract include a tick size of 0.01, a maximum leverage of 20x, and a capped funding rate of 2.5%. Funding fees will be settled every eight hours, and trading will be available 24/7.

    Applied Digital Corporation’s official website can be found at https://www.applieddigital.com/.

  • Bybit to Support Cardano (ADA) v2.2.0 Network Upgrade

    Bybit to Support Cardano (ADA) v2.2.0 Network Upgrade

    Bybit to Support Cardano (ADA) v2.2.0 Network Upgrade

    Bybit has announced its support for the upcoming Cardano (ADA) v2.2.0 network upgrade, which is scheduled to occur on July 18, 2026, at 9:45 p.m. UTC.

    To facilitate a seamless transition, the exchange will temporarily suspend deposits and withdrawals via the Cardano network beginning at 9:00 p.m. UTC on July 18, 2026.

    Trading activities for ADA will remain unaffected throughout the upgrade process.

    Bybit will not issue further announcements regarding the restoration of deposit and withdrawal services. Users who wish to be notified when these services resume may navigate to the Deposit or Withdrawal page and select the “Set Alert” option.

    For additional information regarding the technical specifications of the upgrade, please consult the official Cardano release notes.