Binance has announced the upcoming conversion of several delisted tokens to USDC. The conversion will be based on user holdings as of September 2, 2024, and completed by March 1, 2025. The affected users will receive an equivalent amount of USDC in their Binance wallets. Binance has set a deadline of September 1, 2024, for users to withdraw the impacted tokens. After this deadline, withdrawals will no longer be supported, and users will lose the ability to transfer these tokens from their Binance accounts to external wallets.
According to the firm’s statement, the tokens affected by this announcement include Bitcoin Gold (BTG), Bitcoin Standard Hashrate Token (BTCST), Bitshares (BTS), District0x (DNT), Groestlcoin (GRS), Hegic (HEGIC), MobileCoin (MOB), Monero (XMR), Monetha (MTH), Multichain (MULTI), Navcoin (NAV), Sologenic (SOLO), Spartan Protocol (SPARTA), Symbol (XYM), and Tribe (TRIBE).
Conversion Details
The conversion process will rely on the average exchange rate of each token to USDC during the specified period between September 2, 2024, and March 1, 2025. Binance will provide further information on the average exchange rates in a follow-up email to impacted users. During the conversion period, users will not be able to view these tokens in their Binance wallets.
All users holding the impacted tokens will receive an email notification by August 19, 2024. Binance has already ceased support for deposits of these tokens, meaning any further deposits will not be credited to user accounts.
