Binance to Convert Delisted Tokens to USDC by March 2025
Alvin Lang Aug 13, 2024 05:52
Binance announces the conversion of delisted tokens to USDC by March 2025. Users must withdraw impacted tokens by September 1, 2024.
Binance, a leading cryptocurrency exchange, has announced a significant update regarding the conversion of certain delisted tokens to USD Coin (USDC). According to Binance, the conversion will be based on users’ holdings in their Binance wallets as of September 2, 2024, at 00:00 UTC.
Details of the Conversion
The conversion process will be executed using the average token-to-USDC exchange rate between September 2, 2024, and March 1, 2025. The equivalent amount of USDC will be credited to users’ Binance wallets by March 1, 2025, at 23:59 UTC. Users are advised to withdraw the airdropped or delisted tokens before September 1, 2024, at 23:59 UTC, after which withdrawals will no longer be supported.
List of Impacted Tokens
While the specific tokens affected have not been detailed in the announcement, users holding any of these tokens will receive an email notification by August 19, 2024, at 23:59 UTC. It is crucial to note that deposits of these tokens are no longer supported and will not be credited to users’ accounts.
Important Notes
- Withdrawals of the impacted tokens will be supported until September 1, 2024, subject to network conditions and availability. Post this date, users will not be able to transfer these tokens from their Binance accounts to any external wallets.
- During the conversion period, users will not be able to view the impacted tokens in their Binance wallets.
- There may be discrepancies in the translated version of this announcement. Binance advises users to refer to the original English version for the most accurate information.
This move follows Binance's ongoing efforts to streamline its token offerings and enhance user experience by converting lesser-used tokens into more stable and widely accepted cryptocurrencies like USDC.
Binance reserves the right to amend or cancel this announcement at any time without prior notice. Users are encouraged to stay updated by checking the official Binance announcements regularly.
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 an independent financial adviser prior to making any investment decisions.
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