Binance Exchange Delists 10 Tokens, Converts Them to USDC

In a blog post on Tuesday, Binance Exchange, the largest crypto trading platform by volume, announced the automatic conversion of several delisted tokens to USDC.

Binance, the leading cryptocurrency exchange by trading volume, announced on Tuesday the automatic conversion of several delisted tokens to USDC.

This action will be taken based on the average token-to-USDC exchange rate during the conversion period.

Here's what Binance Exchange users need to know:

Following the delisting of 10 tokens from its catalog, Binance stated in a follow-up message that it would automatically convert them to USDC, allowing holders to access their funds. The exchange will credit the stablecoin equivalent of the affected tokens to users' wallets by April 28, 2025, after the conversion. The tokens include:

Read More: Binance Review 2024: Is It the Right Crypto Exchange for You?

Holders of these tokens are advised to adjust their trading strategies accordingly in preparation for the upcoming changes. Failure to do so by October 28 will result in their automatic conversion to USDC, effectively phasing out the affected tokens from the exchange.

"During the Conversion Period [between October 29, 2024 and April 28, 2025], users will not be able to view the above tokens in their Binance wallets," Binance stated.

In related news, the history of Binance's token delistings often drives volatility. For example, the exchange delisted six altcoins around mid-August, causing double-digit price drops for PowerPool (CVP) and Ellipsis (EPX). These tokens were also among those delisted.

But Binance is not only removing several tokens; it is also adding new ones to its platform. One of the notable additions is Scroll (SCR), a zkRollup scaling solution for Ethereum.

According to the announcement, SCR will be listed on October 11, with pre-market trading for the SCR/USDT pair set to open. This move supports Ethereum's scalability by enabling faster, more efficient transactions while maintaining security and decentralization.

"Binance is pleased to announce the 60th project on Binance Launchpool – Scroll (SCR), a Bytecode-level compatible zkEVM Rollup," reads an excerpt from Binance's announcement.

With this listing notice, Binance becomes the first platform to list Scroll's powering token. The exchange will also airdrop 55,000,000 SCR, which is 5.5% of the total supply. Airdrop farming will begin on Wednesday, October 9. Participants must lock their BNB and FDUSD to earn the SCR tokens.