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Binance To Halt Withdrawals Of These Delisted Tokens, But There’s A Catch

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8 months ago

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Binance has announced a major delisting and conversion initiative. The exchange has set a critical deadline of September 1, for users to withdraw 15 airdropped-delisted tokens from their platform. Following this deadline, they will initiate a process to convert these delisted tokens to USDC, a widely used stablecoin.

Binance To Halt Withdrawals Of 15 Delisted Tokens

Binance, one of the world’s largest cryptocurrency exchanges, has announced a significant move that will affect holders of 15 specific tokens on its platform. The exchange plans to delist these tokens and convert users’ holdings to USDC, a popular stablecoin.

This decision impacts a diverse range of cryptocurrencies, including established projects like Bitcoin Gold (BTG) and Monero (XMR), as well as other tokens such as District0x (DNT) and Spartan Protocol (SPARTA). Bitcoin Standard Hashrate Token (BTCST), Bitshares (BTS), District0x (DNT), Groestlcoin (GRS), Hegic (HEGIC), MobileCoin (MOB), Monetha (MTH), Multichain (MULTI), Navcoin (NAV), Sologenic (SOLO), Spartan Protocol (SPARTA), Symbol (XYM) and Tribe (TRIBE).

The timeline for this process is crucial for affected users. The exchange has set a deadline of September 1, 2024, at 23:59 UTC for users to withdraw these tokens from the exchange. After this cut-off point, withdrawals will no longer be possible. On September 2, 2024, at 00:00 UTC, they will take a snapshot of user holdings for the affected tokens. The conversion process will then begin, using the average token-to-USDC exchange rate over six months, from September 2, 2024, to March 1, 2025.

Binance has committed to completing the conversion and crediting users’ accounts with the equivalent USDC amount by March 1, 2025, at 23:59 UTC. This extended timeframe allows for a more accurate representation of token values, potentially mitigating the impact of short-term market fluctuations.

This move by the xchange raises questions about the future of these tokens and their ecosystems. The list includes privacy-focused coins like Monero, blockchain interoperability projects like Multichain (MULTI), and other tokens with different use cases. The delisting could potentially impact the liquidity and accessibility of these cryptocurrencies in the broader market.

Offerings Expansion Amid Partnerships

While implementing this significant delisting, the titan exchange has expanded its offerings in other areas. The exchange has announced plans to list Toncoin (TON) for spot trading, with new pairs including TON/BTC, TON/USDT, and TON/FDUSD going live on August 8. This news has already impacted the TON market, with the token’s price experiencing significant fluctuations.

Additionally, Binance Labs has invested in Solayer, a Solana restaking network. This investment aims to enhance the Solana ecosystem by improving decentralized application security and network bandwidth, further demonstrating their ongoing involvement in various aspects of the cryptocurrency space.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ethereum’s Controversial Developer Freed Before Full Sentence

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2 hours ago

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April 10, 2025

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Virgil Griffith, a former Ethereum developer who worked on the Ethereum Name Service (ENS), has been released from prison on parole and relocated to a halfway house.

Updates posted on X on Wednesday, April 9, 2025, disclosed that Griffith is now starting his return to civilian life after serving some of his sentence for violating US sanctions.

Ethereum Developer’s Prison Release Confirmed By Sources

Brantly Milegan, executive director of Ethereum Identity Foundation, broke the news with a photo of Griffith and his parents outside the prison. Alexander Urbelis, ENS general counsel and part of Griffith’s legal team, confirmed his release from FCI Milan in Michigan.

Griffith was arrested in November 2019 after speaking at a cryptocurrency conference in North Korea. Prosecutors claimed his presentation provided information that could help North Korea evade sanctions and launder money.

From 63 Months To 56: The Sentence Journey

In 2022, Griffith was sentenced to 63 months in prison and meted a fine of $100,000 after pleading guilty to the International Emergency Economic Powers Act. In July 2024, US District Judge Kevin Castel lowered his sentence to 56 months, citing him as a first-time offender.

ETHUSD trading at $1,598 on the daily chart: TradingView.com

Crypto Return Faces Serious Hurdles

Griffith himself starts a several-year probation term. His attorneys are fighting to transfer him from the halfway house to home confinement, but returning to regular life is hindered.

The Department of Commerce placed severe export restrictions on Virgil that will extend until 2032, Urbelis explained. These limits could block his return to the cryptocurrency field.

Presidential Pardon Possibility Under Trump Administration

Before joining Ethereum, Griffith earned a Ph.D. from Caltech and created WikiScanner, a tool tracking anonymous Wikipedia edits. He also worked with Aaron Swartz on Tor2web.

According to Urbelis, Griffith is seeking a pardon from US President Donald Trump. Trump has previously granted clemency to others in crypto-related cases, including Ross Ulbricht and Arthur Hayes.

The case has triggered debate about sharing open-source information versus helping sanctioned nations. Ethereum co-founder Vitalik Buterin has supported Griffith, even signing a petition calling for his release in 2023.

Featured image from Thiessen Law Firm, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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Binance Lists BABY As Bitcoin Protocol Babylon Goes Live

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4 hours ago

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April 10, 2025

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Cryptocurrency exchange Binance has revealed the listing of BABY, the native token of the Babylon Genesis blockchain. The listing comes as the Babylon Foundation finished its airdrop of 600 million BABY tokens to early adopters and contributors to the ecosystem.

Babylon Genesis Launches As First Bitcoin-Secured L1 Blockchain

The Babylon Genesis blockchain has officially gone live. The project has described itself as the launch of “the world’s first L1 blockchain secured by Bitcoin.” According to an X post by the Babylon team, this launch establishes the Babylon Bitcoin staking protocol as a “foundational infrastructure layer for Bitcoin.”

The project brings with it a fresh paradigm to securing blockchains as it employs Bitcoin as the Layer-1 blockchain’s security mechanism. In the system, the holders of Bitcoin are able to stake their BTC in order to secure the Babylon network and, as a reward, receive BABY tokens.

Babylon’s mission is to realize the maximum utility of Bitcoin by reconditioning “idle Bitcoin to be the foundation of the decentralized economy.” Such an approach helps fix Bitcoin’s lack of programmability without violating its security paradigm by using the staking protocol.

BABY Token Airdrop Successfully Launched

Babylon Foundation reported the completion of its airdrop of BABY tokens to early entrants in its ecosystem. According to official information, the airdrop distributed 600 million BABY tokens. This accounts for 6% of the total supply of 10 billion tokens.

In their announcement tweet, the foundation stated: “Dear Babylonian, the Babylon Foundation is happy to announce that the airdrop has just been successfully executed! You should be able to see your BABY in your wallet very soon.”

The foundation confirmed that there are no transfer restrictions on the airdropped tokens. This gives recipients immediate freedom to trade or use their BABY holdings. Recipients also have the option to stake their BABY tokens to secure the Babylon Genesis network and earn additional tokens as staking rewards.

The airdrop acts as a reward mechanism for early adopters and as a way to distribute governance rights.

Binance Listing Details And Token Information

Binance’s listing of the BABY token provides immediate liquidity for airdrop recipients and other BABY holders. According to the exchange’s announcement, trading for BABY began on April 10, 2025, at 10:00 UTC. The tokens are available to trade against five different currencies: USDT, USDC, BNB, FDUSD, and TRY.

The leading crypto exchange has applied the “seed tag” to BABY. This generally indicates to traders that the token is in early stages and may carry additional investment risks. Deposits for the token will be enabled six hours after Binance’s announcement. This allows users time to prepare for trading. The exchange’s announcement comes after it unveiled its decision to delist 7 crypto pairs.

The total supply of BABY tokens is set at 10 billion, with the recent airdrop distributing 600 million tokens or 6% of this total supply. This distribution approach aims to establish a broad base of token holders who can participate in the network’s governance from its early stages. According to CoinMarketCap data, Babylon is trading at $0.1032 with a market cap of $234 million.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Reveals How XRP Price Can Hit $22 If BTC Rallies To This Level

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6 hours ago

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April 10, 2025

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XRP price has surged nearly 10% today, indicating a renewed market interest in Ripple’s native asset. Notably, the robust surge comes amid a broader crypto market recovery and several other positive developments like the successful ETF launch in the US. Amid this, a top expert has highlighted the XRP/BTC performance and said that Ripple’s native asset is likely to hit $22 if Bitcoin hits a new ATH ahead.

XRP/BTC Bullish Cross Signals Massive Surge Ahead

Crypto analyst EGRAG CRYPTO recently highlighted a major bullish signal on the XRP/BTC chart. He pointed out a rare crossover of two key indicators, i.e. the 55-week Exponential Moving Average (EMA) and the 155-week Moving Average (MA). According to him, this “Bullish Cross” could be a game-changer for XRP holders.

EGRAG explained that the last time this crossover occurred was back in May 2017. XRP price rallied 958% shortly after that event. A similar cross took place again on February 17, 2025, and could repeat the explosive pattern if market conditions align.

Meanwhile, he added that if XRP/BTC retests the 55 EMA level of 0.00001850, Ripple’s coin could reach around $1.48, assuming Bitcoin trades at $80,000. However, if the historical pattern plays out and XRP/BTC gains another 958%, XRP price could skyrocket much higher. Besides, it also comes amid a surge of nearly 6% in BTC price today.

XRP Price Likely To Follow Bitcoin Move

EGRAG CRYPTO’s prediction hinges heavily on Bitcoin’s next major move. If Bitcoin price revisits its 2025 ATH near $109,000 and retraces to $97,000, XRP could hit $16.5. But if BTC breaks into higher territory, the numbers look even more bullish.

For context, he calculated that if Bitcoin touches $130K, XRP could trade at $22. Furthermore, if BTC rallies to $150K, XRP might surge to $25. A push toward $170K could propel XRP to $29, he added.

XRP/BTC Price ChartXRP/BTC Price Chart
Source: EGRAG CRYPTO, X

Why Does This Technical Signal Matters?

The analyst believes most traders overlook the significance of the 55 EMA and 155 MA combination. He noted that many still doubt XRP’s ability to reach double digits, especially after the recent crypto market crash.

However, the analyst remains firm in his belief that the chart tells a different story. He believes that as long as the XRP/BTC pair holds above the 55 EMA, the bullish projection for the XRP price stays valid.

XRP Price Soars 10%

XRP price today was up nearly 10% and exchanged hands at $2, while its one-day volume rose 3% to $8 billion. Simultaneously, the XRP Futures Open Interest also soared past the $3 billion mark with over 4% surge, CoinGlass data showed.

Notably, this recent surge comes as the Ripple network has seen a massive surge in active addresses recently. Besides, the recent XRP ETF launch in the US has also bolstered market confidence. The first-day volume of the Teucrium 2X Long Daily XRP ETF has outshined Solana’s 2X ETF (SOLT) first-day volume.

Considering all these fundamental developments, it appears that the crypto is gearing up for a major rally ahead. Besides, the analyst’s forecast, if holds true, could send the crypto to over $20 in the coming days.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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