Binance has announced its plans to convert a series of delisted tokens to USDC starting September 2.
This move affects 15 tokens, including Bitcoin Gold (BTG), Monero (XMR), Tribe (TRIBE), Sologenic (SOLO), Spartan Protocol (SPARTA), and Symbol (XYM), among others.
These moves reflect Binance’s strategy to streamline its offerings and manage risk, balancing the delisting of certain tokens with the introduction of new trading pairs for emerging cryptocurrencies.
According to the announcement published on August 12, the exchange will cease supporting deposits of these tokens, warning that any funds sent after the cutoff date will not be credited to user accounts. Binance plans to use an average exchange rate for the conversion, calculated based on the token-to-USDC rates from September 2, 2024, to March 1, 2025.
Affected users will be notified via email by August 19, with the full conversion process set to conclude by March 1, 2025, at 23:59 UTC. During this period, users will be unable to view these tokens in their Binance accounts.
Binance noted that it will continue to support withdrawals for the delisted tokens until September 1, 2024, subject to network conditions and availability. After this date, external transfers of these tokens will no longer be possible.
In a separate development, Binance announced the launch of new spot trading pairs for Toncoin (TON), including TON/BTC, TON/USDT, TON/FSUSD, and TON/TRY. Users can now deposit Toncoin for trading, with withdrawals set to begin on August 9 at 10:00 UTC. Notably, Toncoin will receive a “seed tag,” a label Binance uses to indicate higher volatility and risks associated with newly developed cryptocurrencies.
This announcement follows Binance’s earlier introduction of TON futures trading on March 1, showcasing the exchange’s ongoing efforts to expand its trading options while also managing its token listings.
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