Binance intends to retire existing IOTA deposit addresses, and here's why #BinanceAlphaAlert
In a recent update shared on social media platform X, Binance.US, the US arm of major cryptocurrency exchange Binance, announced that it will retire existing IOTA deposit addresses as part of its support for the upcoming IOTA mainnet upgrade.
In a recent article on X, Binance.US announced its support for the upcoming IOTA mainnet upgrade, scheduled for May 5, 2025, at 3:00 AM EST. In preparation for the upgrade, Binance.US noted that it will delist existing IOTA deposit addresses a few days before the upgradeโon May 2, 2025, at 11:00 PM ESTโand provide new addresses after the upgrade is complete. To avoid permanent loss of funds, users are urged to complete all IOTA deposits before this date. According to Binance.US, IOTA deposits and withdrawals will be suspended starting May 2, 2025, at 11:00 PM EST
IOTA Rebased Network ๐๐
As previously reported, the IOTA Rebased network upgrade is scheduled for May 5, 2025. This marks a historic transition as the network transitions from the current Stardust architecture to the all-new IOTA network.
The new network will launch via a founding ceremony with the participation of 13 validators. The IOTA Rebased upgrade will include a carefully planned ceremony led by the IOTA Foundation and an initial group of 12 other validators.