Binance suspends deposits for bridged tokens seeks clarity from Multichain team

1. Binance Suspends Deposits for Bridged Tokens Binance,one of the largest cryptocurrency exchanges,has halted the deposits for bridged tokens. According to the announcement,Binance seeks clarity from the Multichain team,which is responsible for creating wrapped tokens.

2. Wrapped Tokens and Their Utility Wrapped tokens are crypto tokens that represent an asset and are pegged to the value of that asset. This is a way for blockchain-based tokens to have liquidity that is tied to a mainstream asset. Bridged tokens are wrapped tokens that can be transferred between different blockchain networks,such as Ethereum and Binance Smart Chain.

3. Binance’s Efforts to Address Concerns Binance’s halt on deposits for bridged tokens is one of the exchange’s efforts to address potential risks associated with the trading of wrapped tokens. Binance will update its users regarding the situation as it awaits clarity from the Multichain team. In the meantime,users can still trade their bridged tokens using the existing deposited balance.



source https://titdoi.com/news/Binance-suspends-deposits-for-bridged-tokens-seeks-clarity-from-Multichain-team

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