Binance Halts Deposits of Solana-based USDT and USDC

Nov 19,2022
Binance Halts Deposits of Solana-based USDT and USDC

BinanceIt is reported that the cryptocurrency exchange with the largest trading volume in the world has already suspended the deposit of stable currencies based on Solana's Tether (USDT) and USD Coin (USDC).

Consumers on trading websites will not be able to deposit tokens "until then"

Previously, OKX, another key cryptocurrency exchange,Expelled from public officeThe Solana issue of the two largest stable coins.

BitMEX uses Binance as a reference to stop saving the above tokens.

Tether and USD Coin are the third and fourth cryptocurrencies by market value respectively.

In September 2020, Tether became the first stable currency of Solana. At that time, the top "Ethereum murderer" was still a relatively obscure blockchain technology. One month later, the USDC of Circle was transferred to the Solana blockchain.

The rapid decline of FTX has transformed into a vicious change of emotions in all Solana ecosystems. According to Solana's blockchain technology application software, it has lost $700 million worth of assets in continuous difficulties.

On November 10, Solana Charitable Foundation responded that it had one million dollars of capital or quasi currency deposited in an invalid exchange. It cannot access this property because it is already stuck on the Internet.

Solana (SOL) has fallen by 4% in the past hour, and the current buying and selling price is $13.31. The local token, one of the key competitors of Ethereum, has dropped by 94.91% from a record breaking position