Cryptocurrency exchange giant Binance has announced important updates regarding several tokens, including Tornado Cash (TORN), Vai (VAI), OMG Network (OMG), Waves (WAVES), NEM (XEM), BarnBridge (BOND), Dock (DOCK), Mdex (MDX), Polkastarter (POLS), and Pundi X PURSE (PURSE).

The exchange plans to convert these tokens to USDC based on users’ wallet balances as of October 29. Binance will credit an equivalent amount of USDC to users’ wallets, with the process expected to complete by April 28, 2025.

Users have until October 28 at 23:59 UTC to withdraw these tokens before withdrawals are disabled. Binance stated the conversion rate will be based on the average token-to-USDC exchange rate between October 29 and April 28, 2025.

Following the announcement, most of the affected tokens saw price declines:

– TORN dropped nearly 6% to $2.166
– OMG fell about 3% to $0.2796
– WAVES decreased 2.5% to $1.100
– XEM slipped 2% to $0.01753
– BOND declined 3% to $1.53
– DOCK dropped roughly 3% to $0.001759
– MDX crashed 51% to $0.01509
– POLS pulled back 5% to $0.304

This move aligns with Binance’s recent warnings about delisting other tokens like Bluzelle, CLV, SelfKey, Prosper, and VITE as part of efforts to streamline its offerings.

The USDC stablecoin, backed by Circle Internet Financial, offers global digital functionality and will be used for the token conversions.