• Binance, the biggest cryptocurrency exchange in the world, will convert all New Bitshares (NBS) token balances in users’ wallets to USDT by December 8, 2023.
• The conversion will be based on users’ NBS holdings in their Binance wallets at the snapshot time of September 9, 2023.
• Users should expect to receive the Tether (USDT) equivalent of their remaining NBS tokens by December 0, 2023.
Binance to Convert NBS Tokens to USDT
Binance , the biggest cryptocurrency exchange in the world, has indicated that it will convert all New Bitshares (NBS) token balances in users’ wallets to USDT by December 8, 2023. The conversion will be carried out using the average NBS/USDT exchange rate between September 9 and December 8, 2023, and will be based on users’ NBS holdings in their Binance wallets at the snapshot time of September 9, 2023.
Delisted Tokens
The announcement of converting the NBS tokens to USDT comes almost a year after the exchange delisted District0x (DNT), New Bitshares (NBS), Bitcoin Gold (BTG), and Token Club (TCT) on October 24, 2022. In the previous announcement, Binance had stated that deposits of these tokens will not be credited to users’ accounts after October 2022-10-25 00:00 (UTC). Users were supposed to commence withdrawing the delisted tokens and withdrawals were supported until January 25, 2023 at 00:00 (UTC).
What Users Should Expect
According to an announcement made by Binance , users who hold New Bitshares (NBS) tokens in any of their Binance wallets will receive an email notification by August 25th 23:59 UTC . The users are able to continue withdrawing their New Bitshares (NBS) tokens from Binance until September 9th 00:00 UTC , subject to network conditions and availability. After this date , no further withdrawal or transfer is possible for any external wallet .
Conversion Date
Users can expect receive Tether(USDT) equivalent for their remaining NBS tokens on December 0th which is when conversion process is scheduled for completion .
Conclusion
Binance has announced that it will convert all New Bitshares(NBS )token balances into USDT before year ends. They have also informed about delisting certain token from its platform along with last day of deposit and withdrawal dates. All users are expected to receive notification regarding conversion process before August 25th 23:59 UTC followed by Tether(USDT )equivalent for remaining balance before December 0th .
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