Binance will execute a significant burn of Binance-pegged USDT and USDC tokens on the BNB Chain, followed by the release of the equivalent amount of tokens on their respective native networks.
In a recent announcement, Binance stated that it will burn a considerable quantity of Binance-pegged USDT and USDC tokens on the BNB Chain today. This action aims to maintain a level of balance and stability within the BNB Chain ecosystem.
Following the burn, the equivalent amount of these tokens, which were initially used as collateral on their native networks, will be released.
