Major crypto exchange, Binance, has decided to remove leveraged FTX tokens from its exchange, explaining that customers don't sympathize the production.

"Due to lack of understanding of how leveraged tokens work by many of our users, Binance has decided to delist all existing FTX leveraged tokens and corresponding trading pairs," the exchange announced on March 28.

Binance will shut off deposits and withdrawals for the assets on March 31 at 8 a.m. UTC, with a stoppage in trading at 10 a.m. on the aforementioned day.

Binance but recently listed the FTX assets

On March xi, Binance announced its list of 2 FTX leveraged ERC20 tokens, known equally BNBBULL and BNBBEAR. Customers could trade these assets confronting USDT or BUSD, Binance'south ain stablecoin.

Each token represented a 3x leveraged long or short position in Binance Money (BNB).

"Users can buy leveraged tokens just like normal tokens on a spot market," Binance said in its March 11 announcement. "Yet, there is no need for them to manage collateral, margin, liquidation prices, or anything that a normal margin user needs to manage."

A quick printing fourth dimension scan too showed several other available bull and bear pairings, such every bit EOS, ETH and XRP, as well equally a uncomplicated "Bull" and "Bear" option paired against USDT and BUSD.

Source: Binance.com

Binance's delisting includes all FTX leveraged avails

As part of the March 28 announcement, Binance plans to remove "BULL, Acquit, ETHBULL, ETHBEAR, EOSBULL, EOSBEAR, BNBBULL, BNBBEAR, XRPBULL and XRPBEAR."

The exchange included both USDT and BUSD pairings in the delisting.

Binance'due south work with FTX comes after the crypto giant made an equity investment in the crypto derivatives platform back in December 2022. Binance also bought a stake in the platform'south FTX token.

Cointelegraph reached out to Binance for additional details, simply received no response equally of press time. This article will be updated appropriately should a response come in.