• Binance to convert all New Bitshares (NBS) token balances to USDT before year ends
• Binance had delisted the NBS token in October last year and it is currently trading at $0.0002246
• Users should expect to receive the Tether (USDT) equivalent of their remaining NBS tokens by December 8, 2023
Binance To Convert All New Bitshares (NBS) Token Balances To USDT
Binance, the world’s largest cryptocurrency exchange, has announced that it will be converting all New Bitshares (NBS) token balances held in user wallets to Tether (USDT), with a completion date of December 8, 2023. This conversion will be based on users‘ NBS holdings in their Binance wallets at the snapshot time of September 9, 2023 and will be done using the average NBS/USDT exchange rate between September 9 and December 8.
Previous Delisting Of NBS Token
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). In October 2022-10-25 00:00 UTC, deposits of these tokens were no longer accepted into user accounts. Users were then instructed to commence withdrawing these delisted tokens until January 25, 2023 at 00:00 UTC.
What Users Should Expect
Users who hold New Bitshares (NBS) tokens in any of their Binance wallets will receive an email notification by August 25, 2023 at 23:59 UTC. Until September 9th 00:00 UTC when withdrawals are no longer available for this token, users can continue withdrawing their New Bitshares from Binance subject to network conditions and availability. After this date they will not be able transfer or withdraw their NBS tokens from any external wallets. By December 0th 2023, users should expect to receive the Tether (USDT) equivalent of their remaining NBS tokens as scheduled conversion completion date.
Periodic Review Of Listed Tokens
Binance periodically reviews its listed tokens to ensure they meet high standards expected by users. As part of this process they have recently decided to delist certain coins such as District0x(DNT), Bitcoin Gold(BTG), Token Club(TCT). They also plan on convering all current holdings of New BitShares(NBB) into USDT before years end as announcemnet earlier today..
Conclusion
Overall it appears that Biance is taking steps towards ensuring its listed tokens maintain high standards expected by users. For anyone holding any amount of the now delisted coins or current holders of New BitShares(NBB) you must take note of all dates mentioned above regarding withdrawal times and expected conversion times to USDT before years end..
