Binance Will Convert DUST Tokens to USDC by April 2025

After that, these tokens will no longer be supported for withdrawals or transfers. The conversion process will be completed by April 28, 2025.

Binance to Convert 11 Tokens to USDC at an Average Rate over 6 Months

Binance announced on Wednesday that it will perform a conversion of eleven (11) tokens to $USDC based on users’ holdings in their Binance wallets at the snapshot time. The affected tokens will no longer be supported for withdrawals or transfers.

The conversion process will be completed by April 28, 2025.

Here are the key dates to remember:

Snapshot time: October 29, 2024, at 00:00 UTC

Last day to withdraw affected tokens: October 28, 2024

Conversion completion date: April 28, 2025

What Happens During the Conversion?

Binance will calculate the average value of each token between October 29, 2024, and April 28, 2025. When the conversion is done, users will get an equivalent amount of $USDC in their Binance wallets. During this period, users won’t be able to see or use the affected tokens.

Binance will send emails to everyone affected by October 15, 2024, explaining the next steps. When the conversion is complete, users will get another email with details about the exchange rates.

What Should You Do?

If you hold any of these tokens, you can still withdraw them until October 28th, 2024. After that, your only option will be to wait for the USDC conversion. Binance has already stopped accepting deposits for these tokens, so any new deposits won’t show up in your account.

The following eleven (11) tokens will be affected by this conversion:

1. $1INCH

2. $ALICE

3. $ANKR

4. $AUDIO

5. $BAL

6. $BAND

7. $BAT

8. $BLUR

9. $BNT

10. $COMP

11. $CREAM

This news was covered by Altcoin Buzz on October 8, 2024.