🧵 1. Binance set to convert Monero (XMR) to USDC on Sept. 2, part of delisting process. 15 tokens affected. Balances will be in USDC by Mar. 1, 2025. #crypto
🧵 1. Binance set to convert Monero (XMR) to USDC on Sept. 2, part of delisting process. 15 tokens affected. Balances will be in USDC by Mar. 1, 2025. #crypto
🧵 Read more at: https://decrypt.co/244229/binance-will-start-converting-monero-to-usdc-on-september-2-as-part-of-delisting
🧵 2. Conversion rate based on average exchange rate from Sept. 2, 2024, to Mar. 1, 2025. XMR trading at $149.38 despite delisting by Binance.
🧵 3. Delisting seen as setting a troublesome precedent. Web3Privacy Now contributor criticizes Binance for moving away from decentralization ethos.
🧵 4. MobileCoin, another privacy-focused coin, also affected. Withdrawals on Binance allowed until Sept. 1, 2024. Binance did not respond to request for comment.
🧵 5. Privacy coins enhance transaction anonymity beyond standard cryptocurrencies like Bitcoin. Advocates argue for user privacy protection, while critics highlight potential for illicit use.