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Breaking: FTX Is Halting All Deposits And Withdrawals Of Terra Classic (LUNC) and TerraClassicUSD (USTC), Delists ANC

Manoj Nair



FTX Collapse

Crypto derivatives exchange FTX has stated today that it is halting all deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC) from September 12 at 14:00 UTC. Also, it is ending all support for Anchor Protocol and delisting and halting ANC spots and futures on September 12.

In an official announcement on September 5, the crypto exchange FTX said that deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC) would be halted on September 12 at 2 PM UTC.

Even though FTX Wallet will end support for deposit and withdrawal services, it will continue to support the “convert option” for LUNC and USTC.

FTX Wallet Urges Users To Conclude Deposit And Withdrawals

FTX Wallet has urged all users to conclude their deposits and withdrawals before September 12 at 14:00 UTC. It also warned that deposits and withdrawals made after the deadline would not be credited to the wallets.

Besides ending all support for LUNC and USTC, the Crypto derivative exchange is ending support for ANC spot and futures markets on September 12 at 2 PM UTC and delisting Anchor Protocol (ANC) token. Thus all ANC/USD and ANC-PERP orders will remain canceled, all trading on ANC/USD and ANC-PERP markets will be halted, and ANC deposits and withdrawals will remain suspended. Also, ANC-PERP will cash-expire to a 1-hour TWAP of its corresponding index prices, and only the convert function will remain functional on the crypto exchange.

It is to be noted that FTX had supported the Terra Classic (LUNC) network upgrade on August 26 and also started withdrawals for all Terra Classic tokens post a successful upgrade.

The number one crypto exchange, Binance, had also announced the suspension of Terra Classic and TerraClassicUSD post the closure of the Shuttle Bridge. The deposits and withdrawals of Terra Classic (LUNC) via the Ethereum network are now ended. Users can still use the Terra Classic network to deposit and withdraw their LUNC and USTC tokens.

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