Cryptocurrency Exchange Binance Plans to Phase Out IOTA Deposit Addresses, Explanation Provided
Head's up, crypto enthusiasts! Binance.US, the American counterpart of the popular exchange Binance, has dropped a bombshell on social media. They're prepping for the upcoming IOTA mainnet upgrade by retiring existing IOTA deposit addresses on May 2, 2025, at 11:00 p.m. (the local time's none of our business).
Don't throw your coins away, folks! Binance.US is stepping up to support the IOTA network's big shift, scheduled for May 5, 2025, at 3:00 a.m. EDT. To prevent your hard-earned IOTA from mysteriously disappearing, they recommend wrapping up all deposits before May 2, 2025. Remember, neither you nor your granny's old whitelist will be able to access those retired deposit addresses once they're bur Mesopotamia.
Binance.US is putting a pause on IOTA deposits and withdrawals as of May 2, 2025, 11:00 p.m. EDT. That's no deposit time for you, Al Capone. Any IOTA you toss in the bin after that will end up in more than just your angry ex's hands. They're not gonna magically appear in your account; it's more like: poof - Gone!
New deposit addresses will be served up like a piping hot plate of spaghetti once the mainnet upgrade's done and the house is spotless. So, keep your wits about you and those IOTA safe. It's gonna be a wild ride, but ain't crypto always?
Update: Just in case you missed it, the IOTA Rebased network upgrade has IOTA setting its sights on May 5, 2025. This marks a monumental shift as IOTA waves goodbye to the Stardust architecture and welcomes a brand-new network into the world.
The new network will come into being through a bash-worthy Genesis Ceremony with 13 validators. The IOTA Foundation will lead the charge, with 12 other validators hot on their heels. Trading on exchanges will continue unabated, but don't forget that IOTA deposits and withdrawals might get suspended during the upgrade. Keep your eyes peeled, and your wallets full.
Sources:[1] Binance.US Support Page for IOTA[2] Binance.US Twitter Update[3] IOTA Foundation Blog[4] IOTA Developer Roadmap[5] Official IOTA Wallet FAQ
- Binance.US will retire existing IOTA deposit addresses on May 2, 2025, to facilitate the IOTA mainnet upgrade.
- To avoid losing IOTA tokens, users are advised to deposit all IOTA before May 2, 2025.
- Binance.US will suspend IOTA deposits and withdrawals starting May 2, 2025, at 11:00 p.m. EDT.
- After the upgrade, new IOTA deposit addresses will be issued.
- The IOTA Rebased network upgrade, scheduled for May 5, 2025, will mark the transition from the Stardust architecture to a new network with 13 validators.
- Trading on cryptocurrency exchanges will continue, but users should be aware of potential suspension of IOTA deposits and withdrawals during the upgrade.
