Share this article
Binance to Cease Crypto Margin Trading on Sterling, Euro, Australian Dollar
The announcement comes hours after CEO Changpeng Zhao tweeted that Binance was reducing the maximum leverage users can use to trade futures contracts.
Updated Sep 14, 2021, 1:30 p.m. Published Jul 26, 2021, 10:54 a.m.
Make us preferred on Google
Binance is set to stop its crypto margin trading involving sterling, the euro and Australian dollar, as the world's large cryptocurrency exchange seeks to stave off a widespread regulatory backlash against some of its services.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Starting Aug. 10, Binance Margin will suspend borrowing for its GBP, EUR and AUD pairs and major cryptocurrencies including bitcoin, ether and Binance coin, an announcement Monday said.
- Binance will conduct automatic settlement, cancel pending orders and delist all affected pairs by Aug. 12.
- The announcement comes only hours after CEO Changpeng Zhao tweeted that Binance was reducing the maximum leverage users can use to trade futures contracts from 100x to 20x, following the lead of fellow exchange FTX.
- Binance has been the target of a string of warnings and denouncements from financial regulators the world over in recent weeks, including those of the U.K., Japan, Italy and Thailand.
- Less than a fortnight ago, the exchange said it was ending support for its stock market token offering that had drawn consternation from several financial watchdogs.
Read more: Kraken to No Longer Offer Margin Trading for US Investors Who Don’t Meet ‘Certain’ Requirements
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Kevin O'Leary says power is now more valuable than bitcoin
"Shark Tank" investor Kevin O'Leary is pivoting his crypto strategy from tokens to energy infrastructure, declaring that power generation is now the real prize.
What to know:
The big pivot: O'Leary has moved capital away from smaller tokens to focus on physical infrastructure like land, power, and copper.
- He believes power is now "more valuable than bitcoin" and has secured significant land deals with stranded natural gas in Alberta and the U.S.
- His thesis is driven by the massive energy needs of bitcoin mining and AI, noting that entities controlling power can serve either market.
- He advises investors to look at copper and gold, noting copper prices have nearly quadrupled for his projects in the last 18 months.
- He views Robinhood and Coinbase as "no-brainer" infrastructure investments, having reallocated capital from altcoins into these platforms. He describes Robinhood as the premier bridge for managing equity and crypto in one portfolio, while labeling Coinbase the "de facto standard" for businesses to manage stablecoin transactions and vendor payments once regulatory acts pass.
Top Stories
