FTX and Binance Remove High Leverage From Their Exchanges

From decrypt.co

FTX and Binance, two of the crypto industry’s largest exchanges, have both cut the amount of leverage users can trade with. FTX’s decision came into force yesterday, while Binance made the decision last Monday, 19 July. Now, both exchanges are allowing users a maximum leverage of 20x. According to FTX CEO Sam Bankman-Fried (SBF), this is a direction that “the industry is headed, and has been headed for a while.” In comparison, Binance CEO Changpeng Zhao (CZ) described this move as being in “the interest of consumer protection.” He also added in a tweet today that the exchange made this move last week, ... (full story)