World’s biggest cryptocurrency exchange, Binance, has announced it is ceasing support of deposits and withdrawals for an array of Multichain-bridged tokens starting from July 7, 2023. 

On May 25, Binance initially suspended the deposit of 10 Multichain-bridged tokens due to days-long delays in transaction time on the Multichain protocol.

A few days later, the debacle worsened when Multichain announced it could not contact its CEO Zhaojun.

As a result of its CEO being inaccessible, the team behind Multichain stated they couldn’t obtain the necessary server keys for the maintenance of some nodes, which affected the cross-chain operations of various networks, including ONUS, Omax, Findora, etc. 

Binance Halts Support For Multichain-Bridged Tokens On Certain Chains

In its latest update today, July 5, Binance stated that its trading platform will no longer support certain tokens, including 8 Multichain-bridged cryptocurrencies. 

These included Polkastarter (POLS) via BNB Smart Chain, Alchemy Pay (ACH) via BNB Smart Chain, Beefy Finance (BIFI) via Fantome Network, SuperVerse (SUPER) via BNB Smart Chain, Travala (AVA) via Ethereum Network, Spell Token (SPELL) via Avalanche C-Chain, Alpaca Finance (ALPACA) via Fantom Network, and Harvest Finance (FARM) via BNB Smart Chain. 

At this time, Binance has not provided a specific reason for this decision. They have only stated that it follows previous suspensions that occurred in May.

However, the crypto exchange has stated that deposits and withdrawals of these tokens via its other supported networks will still be allowed. 

<

Go to Source to See Full Article
Author: Semilore Faleti

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details