Binance forces conversion of 15 tokens to USDT

Cryptocurrency exchange Binance will force the conversion of 15 tokens into USDT.

The reasons for Binance’s decision are unclear at press time. According to today’s platform announcement, Binance will convert tokens into USDT based on users’ funds in their Binance wallets at midnight on April 21.

However, users can withdraw the airdropped or delisted tokens until this time. After the specified time, asset withdrawal will not be available. Deposits of any of the above tokens are no longer supported and will not be credited to user accounts.

In total, the changes will affect 15 tokens: Moeda Loyalty Points (MDA), Helium (HNT), Mithril (MITH), DFI.Money (YFII), Mirror Protocol (MIR), Venus Reward Token (VRT), TokenClub (TCT), Augur ( REP), EasyFi (EZ), Swerve (SWRV), Boba Network (BOBA), Serum (SRM), Raiden Network Token (RDN), Cobak Token (CBK), OnX Finance (ONX).

“Please note that 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.”

Binance team

At the end of March, Binance stopped supporting USDC deposits and withdrawals on the Tron network (TRC20). According to the exchange, USDC stablecoins will not be credited to user accounts via the TRC20 network after April 5. However, users will still be able to continue trading USDC on Binance.

The decision comes shortly after USDC issuer Circle announced it had stopped supporting the Tron network. USDC will continue to operate on Tron until February 2025, but no new stablecoins will be issued on the network.

Users will have the opportunity to transfer funds to other blockchains or exchange them for fiat currency. Circle did not disclose the reason for refusing to support the reasonably popular network.