Binance announces conversion of delisted tokens to the stablecoin USD Coin (USDC), impacting tokens like Vai (VAI), Tornado Cash (TORN), and OMG Network (OMG).
Binance, the world's largest cryptocurrency exchange by trading volume, will be converting several delisted tokens to USD Coin (USDC) in the coming months. This decision will impact tokens such as Vai (VAI), Tornado Cash (TORN), and OMG Network (OMG), among others.
According to an announcement by Binance on Wednesday, the conversion will be based on users' holdings in their Binance wallets as of October 29, 2024, at 00:00 (UTC). The exchange will complete the conversion by April 28, 2025, at 23:59 (UTC).
Users are advised to withdraw the affected tokens by October 28, 2024, at 23:59 (UTC). After this deadline, withdrawals will no longer be supported, and the tokens will be automatically converted to USDC.
The list of tokens that will be converted includes:
The conversion will be executed based on the average token to USDC exchange rate during the conversion period, from October 29, 2024, to April 28, 2025. Binance will notify all affected users via email by October 15, 2024, and provide further details about the conversion rates.
Deposits of these tokens are no longer supported, and any deposits made will not be credited to users’ accounts. During the conversion period, users will not be able to view the converted tokens in their Binance wallets.
Binance emphasizes that users will receive an email notification regarding the conversion completion. Additionally, users are reminded that discrepancies may exist between translated versions of the announcement, and the original English version should be referenced for the most accurate information.
Binance reserves the right to amend or cancel the announcement without prior notice. The exchange advises users to carefully consider their investment decisions, as digital asset prices are subject to high market risk and volatility.
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