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A major cryptocurrency exchange, Binance, has announced the mandatory conversion of 15 tokens into USDT (Tether).
Users have until midnight on April 21 to withdraw affected tokens, after which withdrawals won’t be possible. Tokens including Moeda Loyalty Points (MDA), Helium (HNT), Mithril (MITH), and others are affected. Binance will provide updates and email notifications once the conversion is complete.
Binance Said, “Binance will update this announcement and send a separate email to all impacted users when the conversion of the aforementioned tokens to USDT is complete.”
Additionally, Binance has ceased supporting USDC deposits and withdrawals on the Tron network (TRC20). After April 5, USDC stablecoins won’t be credited via TRC20. However, trading USDC on Binance remains unaffected.
This move follows Circle’s decision to stop supporting Tron network, citing undisclosed reasons. Users can transfer funds to other blockchains or exchange for fiat currency. Circle plans to continue USDC operations on Tron until February 2025, albeit without issuing new stablecoins.
Also Read: Binance Appoints First Board of Directors, Richard Teng
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