{"id":70237,"date":"2022-11-17T16:17:51","date_gmt":"2022-11-17T14:17:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70237"},"modified":"2025-09-08T00:54:32","modified_gmt":"2025-09-07T21:54:32","slug":"binance-suspends-usdt-and-usdc-deposits-on-the-solana-blockchain","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-suspends-usdt-and-usdc-deposits-on-the-solana-blockchain\/","title":{"rendered":"Binance suspends USDT and USDC deposits on the Solana blockchain"},"content":{"rendered":"<p>The cryptocurrency exchange Binance temporarily <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/deposits-of-usdc-sol-usdt-sol-token-suspended-ed279c11471b4c118c3fe9962eb12dc9\">suspended<\/a> deposits of the stablecoins Tether (USDT) and USD Coin (USDC) issued on the Solana network. The company did not explain the reason for the decision.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">17 November 2022 | 18:14<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Binance <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/deposits-of-usdt-sol-token-resumed-4df9fb3a27bf4735b7a726a3a9849ac0\">resumed<\/a> deposits in USDT on Solana. Depositing USDC to the account in the specified network remains unavailable.<\/p>\n<\/div>\n<p>The OKX platform <a href=\"https:\/\/www.okx.com\/support\/hc\/en-us\/articles\/10663808896909-Delisting-of-USDC-Solana-and-USDT-Solana-token-networks\">announced<\/a> delisting of the mentioned assets. Users also report that Bybit has made a similar decision.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance, OkEx, Bybit all temporarily halting USDC\/T deposits on Solana . <a href=\"https:\/\/t.co\/vTQ759Gxg4\">https:\/\/t.co\/vTQ759Gxg4<\/a><\/p>\n<p>\u2014 Hsaka (@HsakaTrades) <a href=\"https:\/\/twitter.com\/HsakaTrades\/status\/1593221735121403906?ref_src=twsrc%5Etfw\">November 17, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">17 November 2022 | 16:47<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>When attempting to deposit USDT on the Solana network on Bybit, a message appears stating that deposits in the selected network are temporarily unavailable. According to the notice, the reason is wallet maintenance. <\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"885\" height=\"728\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/bybit.png\" alt=\"Binance suspended deposits in USDT and USDC on the Solana blockchain\" class=\"wp-image-191144\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/bybit.png 885w, https:\/\/u1f987.com\/wp-content\/uploads\/bybit-300x247.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/bybit-768x632.png 768w\" sizes=\"auto, (max-width: 885px) 100vw, 885px\" \/><figcaption>Data: <a href=\"https:\/\/www.bybit.com\/\">Bybit<\/a>. <\/figcaption><\/figure>\n<\/div>\n<p>Solana&#8217;s prices reacted negatively to the announcements. In the last hour and a half the price fell by almost 5%. At the time of writing, the cryptocurrency was trading near $13.32.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"466\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2022-11-17_16-13-01-1024x466.png\" alt=\"Hourly chart of SOL\/USDT on Binance. Data: TradingView.\" class=\"wp-image-191132\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2022-11-17_16-13-01-1024w.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2022-11-17_16-13-01-300x137.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2022-11-17_16-13-01-768x350.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2022-11-17_16-13-01-1536x699.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2022-11-17_16-13-01.png 1814w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly chart of SOL\/USDT on Binance. Data: TradingView.<\/figcaption><\/figure>\n<p>Binance declined to comment on the situation surrounding the suspension of operations.<\/p>\n<p>Earlier similar decision <a href=\"https:\/\/u1f987.com\/en\/news\/crypto-com-suspends-usdc-and-usdt-withdrawals-on-solana-amid-ftx-crisis\">was taken<\/a> by the cryptocurrency platform Crypto.com. Its chief executive Kris Marsalek explained the move citing problems at the FTX exchange, which \u201cwas an important bridge\/venue for Solana-based stablecoins.\u201d<\/p>\n<p>According to <a href=\"https:\/\/tether.to\/en\/transparency\/\">Tether<\/a>, nearly 1.9 billion USDT are authorized on the Solana network. According to <a href=\"https:\/\/solscan.io\/token\/EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v\">Solscan<\/a>, the market capitalization of USDC in the network exceeds $5 billion.<\/p>\n<p>Solana <a href=\"https:\/\/u1f987.com\/en\/news\/crypto-industry-participants-distance-themselves-from-ftx-and-alameda-research\">is one of the portfolio assets<\/a> of Sam Bankman-Fried&#8217;s Alameda Research.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance temporarily suspended deposits in stablecoins USDT and USDC issued on the Solana network. The company did not explain the reason for the decision.<\/p>\n","protected":false},"author":1,"featured_media":70238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1291,1159],"class_list":["post-70237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-okx","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70237"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70237\/revisions"}],"predecessor-version":[{"id":70239,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70237\/revisions\/70239"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70238"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}