Binance, the leading crypto exchange, has announced the cessation of support for certain leveraged tokens, including those tied to major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB).

The affected tokens include pairs like BTCUP and BTCDOWN, ETHUP and ETHDOWN, as well as BNBUP and BNBDOWN, all of which were paired with Tether (USDT).

This decision was publicised on February 19, with a deadline set for users to convert or redeem these tokens by April 3. The exchange plans to halt trading and subscription services for these leveraged token pairs on February 28 at 06:00 UTC.

Post this deadline, Binance will automatically remove all trading orders for the mentioned tokens, effectively preventing any further placements of trade orders for these assets.

Users of the platform are encouraged to swiftly act on this announcement to safeguard their investments and adapt to the forthcoming changes in service.