Binance, the world’s largest cryptocurrency exchange, is moving to put a stop to trading of Terraform Labs’ Terra (Luna) and TerraUSD (UST) tokens on its platform following one of the industry’s biggest meltdowns.
The exchange indefinitely suspended the trading of Luna and UST across most of its spot pairs Thursday evening after the tokens lost nearly 100% of their value in a span of days. Additionally, it is freezing Luna trading across all of cross margins and isolated margins pairs.
The move, which follows the exchange pulling support for trading of futures contracts for the Luna token earlier on Thursday, comes as Terraform Labs has increased the circulating supply of Luna tokens to over 6.5 trillion, up from 386 million three days ago (a …
