Alvin Lang
Aug 13, 2024 05:52
Binance announced that it will convert delisted tokens to USDC by March 2025. Users will have until September 1, 2024 to withdraw the affected tokens.
Major cryptocurrency exchange Binance has announced an important update regarding the conversion of some delisted tokens to USD Coin (USDC). According to Binance, the conversion will be based on users’ Binance wallet holdings as of September 2, 2024, 00:00 UTC.
Conversion Details
The conversion process will be executed using the average token-to-USDC exchange rate from September 2, 2024 to March 1, 2025. The same amount of USDC will be credited to users’ Binance wallets on March 1, 2025 at 23:59 UTC. Users are advised to withdraw any airdropped or delisted tokens before September 1, 2024 at 23:59 UTC, after which withdrawals will no longer be supported.
List of affected tokens
The specific tokens affected were not detailed in the announcement, but users holding these tokens will receive an email notification by 23:59 UTC on August 19, 2024. It is important to note that deposits of these tokens are no longer supported and will not be credited to user accounts.
Important Note
- Withdrawals of affected tokens will be supported until September 1, 2024, subject to network conditions and availability. After this date, users will not be able to transfer these tokens from their Binance accounts to external wallets.
- During the transition period, users will not be able to see the affected tokens in their Binance wallets.
- There may be inconsistencies in the translated version of this notice. Binance advises users to refer to the original English version for the most accurate information.
This move follows Binance’s ongoing efforts to streamline token offerings and improve user experience by converting less-used tokens to more stable and widely accepted cryptocurrencies like USDC.
Binance reserves the right to modify or cancel this notice at any time without prior notice. Users are advised to regularly check the official Binance notice to stay informed.
Digital asset prices are subject to high market risk and price volatility. Users are advised to carefully consider their investment experience, financial situation, investment objectives and risk tolerance and consult with an independent financial advisor before making any investment decisions.
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