Binance to Convert Delisted Tokens to USDC on September 2nd

Binance will convert a range of delisted tokens to USDC starting September 2, 2024, at 08:00 (UTC+8). The tokens affected include BTG, BTCST, BTS, DNT, GRS, HEGIC, MOB, XMR, MTH, MULTI, NAV, SOLO, SPARTA, XYM, and TRIBE.

Snapshot and Conversion Period

Users with these tokens in their Binance wallets at the snapshot time of 00:00 (UTC) on September 2, 2024, will have their holdings converted to USDC. The conversion will use the average exchange rate of each token to USDC during the designated Conversion Period, from September 2, 2024, to March 1, 2025. The equivalent USDC will be credited to users’ wallets by March 1, 2025, at 23:59 (UTC).

Withdrawals and Notifications

Withdrawals of the delisted tokens will cease after September 1, 2024, at 23:59 (UTC). Users are advised to withdraw any holdings of these tokens before this deadline. Binance will update users on the conversion process and will send an email confirming the USDC credit once the conversion is complete.

The delisting of these tokens is part of Binance’s initiative to streamline its platform by removing tokens with low liquidity or that do not meet its standards.

Binance’s Compliance Efforts

In recent years, Binance has collaborated with global law enforcement agencies to combat financial crime. In 2022 and 2023, its Financial Crime Compliance team played a crucial role in freezing and seizing over $2.2 billion in assets linked to criminal activities, including significant collaborations with U.S. agencies such as the FBI, DOJ, and DEA.