Skip to content Skip to sidebar Skip to footer

Updated at 17:50 UTC: OKX has updated its announcement saying he discontinued support instead of removing tokens. Title changed to reflect recent updates.

Updated at 15:58 UTC: Binance resumed deposits for USDT, according to a new blog post.

Binance and OKX have suspended support for the Solana blockchain versions of the two largest stablecoins – Circle’s USDC and Tether’s USDT – the exchanges announced separately in blog posts on Thursday.

Whereas Binance said it has temporarily suspended USDC and USDT deposits on Solana until further notice, OKX went further saying it was deleting tokens effective Thursday at 3:00 UTC.

Binance has since resumed deposits for USDT on Solana, the exchange said in a new blog post. Later, OKX updated its announcement with slightly modified wording, indicating that it discontinued support for the two tokens instead of removing them from the list.

Binance and OKX did not return requests for comment at press time.

Solana is one of the biggest blockchains, and its close ties to Sam Bankman-Fried’s imploded crypto empire – FTX and Alameda Research were key investors – seem to be weighing heavily on the project and its ecosystem.

Read more: Solana Foundation Invested in FTX and Holds Millions in Sam Bankman-Fried-Linked Cryptos on Exchange

The exchanges did not explain the reasons for the move, which created confusion in the crypto industry.

Jeremy Allaire, CEO of issuer USDC Circle, tweeted that USDC on Solana – which is natively issued by Circle – works well. “[It’s] not clear what are the motivations for the exchange actions, which are disappointing.

Last week crypto exchange decided to stop deposits and withdrawals from Solana versions of USDC and USDT, citing “recent industry events.”

Source link

Leave a comment