Binance suspends IOTA withdrawal operations on this date: Here’s why!
Binance has announced a temporary suspension of IOTA deposit and withdrawal operations on May 5, 2025, in support of the IOTA network upgrade and the scheduled Hard Fork on the same day, as part of a move aimed at ensuring a smooth update and providing a stable user experience.
According to the official statement, the suspension of deposits and withdrawals will begin at 6:00 AM UTC, one hour before the expected implementation of the update at 7:00 AM.
Trading of IOTA tokens on the platform will continue unaffected, with the resumption of deposit and withdrawal activities occurring as soon as the new network stabilizes, without specifying a precise timeline for this or any subsequent announcements.
In the same context, Binance US, the American arm of the platform, announced parallel steps including the withdrawal of current deposit addresses on May 2 at 11:00 PM Eastern Time, in preparation for the suspension of deposits and withdrawals for the IOTA network concurrent with the upgrade.
These moves come in preparation for the “IOTA Rebased” update, which is a fundamental shift in the network's architecture, transitioning it from the existing “Stardust” system to a completely new network.
This network is set to be launched through an inauguration ceremony featuring 13 validators led by the IOTA Foundation, alongside an initial group of 12 additional validators.
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