Binance to Convert Delisted Tokens to USDC by March 2025

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.

Image
source:
Shutterstock