Binance and Coinbase International tighten token collateral rules, trimming leveraged traders' margin cushion
Exchanges tighten token collateral, cutting leverage for traders
Binance lowered the collateral ratio for six tokens on Sept. 18, while Coinbase International Exchange says 29 assets will leave its eligible-collateral list on Sept. 29. These changes affect how much of an asset's market value an exchange recognizes for borrowing or margin calculations.
Even though the tokens' market prices stay the same, a lower ratio means traders can borrow less or have a smaller margin cushion.
Key numbers
- Binance cut collateral ratios for AUCTION, BLUR, GALA, HYPER, S, and SYRUP from 30% to 10%.
- A $100,000 holding in one of these tokens now provides $10,000 of recognized collateral value, down from $30,000—a $20,000 drop.
- Coinbase International Exchange will remove 29 assets, including BNB, AVAX, ARB, ONDO, PEPE, SHIB, and UNI, from eligible collateral on Sept. 29.
How the Binance change works
Binance said its Cross Margin change affects how much a customer can borrow or transfer out. In Portfolio Margin, the collateral ratio feeds a measure called the unified maintenance margin ratio (uniMMR), which checks whether a portfolio has enough margin to support positions. A lower recognized value can reduce that cushion, but the exact impact depends on the account's other assets, liabilities, and risk tiers.
Coinbase International's collateral removal
Coinbase International Exchange's collateral page says 29 assets will no longer count as eligible collateral on Sept. 29. Customers relying on those assets may need to add other collateral or reduce exposure, depending on their margin position.
What is confirmed
Binance published a Sept. 18 update cutting collateral ratios for six tokens and raising them for ARB, TAO, and WLD from 50% to 60%. Coinbase International Exchange published a notice listing 29 assets that will no longer be eligible collateral on Sept. 29. Binance also removed five cross-margin pairs on Sept. 18: ENJ/USDC, GENIUS/USDC, CVX/USDC, GUN/USDC, and VANA/USDC, and settled the GENIUS/USDC isolated-margin pair automatically.
What is still unclear
The source does not disclose how many accounts are affected or whether margin calls or liquidations will occur. The article notes that aggregate borrowing capacity could rise or fall depending on account balances, and there is no evidence the exchanges coordinated their decisions.
Why it matters for leveraged traders
These changes show that exchange-set collateral rules can tighten usable leverage independently of token prices. A trader's borrowing power can shrink even if the market value of holdings stays the same, which might lead to margin calls or position reductions for those with large exposures.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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