Binance, a cryptocurrency exchange, stopped deposits around 10 bridged tokens on May 25, 2023. It’s believed that this development happened after transactions around Multichain protocol were halted, as stated by Cointelegraph.
According to Cointelegraph, token pairs impacted have been Polkastarter (POLS), Alpaca Finance (ALPACA), Travala.com (AVA), Spell (SPELL), Fantom (FTM), Alchemy (ACH), Beefy (BIFI), SuperVerse (SUPER), Harvest Finance (FARM) and DeXe (DEXE). From what it’s understood, the step affects bridged token-based users associated with BNB Smart Chain, Fantom, Ethereum and Avalanche blockchains.
Based on Cointelegraph’s information, Binance’s deposit page stated that withdrawals of these tokens and deposits around other networks are still available. Reportedly, other companies apart from Binance also took steps during Multichain’s downtime.
Moreover, Cointelegraph noted that Binance’s venture arm is a Multichain investor.
(With insights from Cointelegraph)
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