On October 8, COINOTAG reported that Binance will implement a conversion of specific token holdings into USDC, effective on October 29, 2024. This adjustment will take place based on users’ wallet balances as of the determined snapshot time at 08:00 Eastern Time. The conversion of tokens, including Vai (VAI), Tornado Cash (TORN), and others, will occur before 07:59 Eastern Time on April 29, 2025, providing users the opportunity to manage their assets accordingly.
Significantly, Binance will cease support for withdrawals of the affected airdropped and delisted tokens after the specified time on October 29, 2024. This strategic move aims to streamline the trading market by reducing the complexity associated with maintaining less viable assets. Users are thus encouraged to withdraw any holdings before the cutoff to avoid complications. Key tokens impacted include OMG Network (OMG), NEM (XEM), and Pundi X PURSE (PURSE), among others.