USDC deposits and withdrawals on other supported blockchains will not be affected. The crypto community on X largely supported Binance’s decision.
Crypto investors using Binance have been given 12 days to either convert, transfer or cash out their TRC-20 USDC tokens away from Binance.Circle also stopped minting USDC on Justin Sun’s Tron blockchain on the same day and said it would gradually phase out support for the blockchain network entirely.
On March 25, Binance announced its decision to cease support for Tron’s TRC-20-based USDC deposits and withdrawals from April 5. Crypto investors using Binance have been given 12 days to convert, transfer, or cash out their TRC-20 USDC tokens away from Binance. However, the exchange will continue to allow USDC trades past the deadline.
However, Circle did not give a reason for stopping support for Tron, only saying it “continually assesses the suitability of all blockchains” as part of its risk management process.Speaking to Cointelegraph at the time, a Tron spokesperson said that Tron did not receive further information from Circle on why it pulled support and was not notified in advance.
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