strong buy
OKX Ends Support for USDC, Conversion and Closure Imminent
Recently, all users of the OKX exchange received a letter informing them that starting from June 13, the platform will cease support for all USDC-related products.
According to the notification, all USDC balances in user accounts will be converted into USDT. Additionally, loans and collateral in USDC will be forcibly closed, all USDC Earn products will be liquidated, trading and deposits involving USDC will be disabled, and USDC positions will be automatically closed.
For users holding USDC on the exchange, it is advisable to manually withdraw or exchange these funds to avoid potential issues.
Just recently, it appeared that the restrictions primarily targeted USDT, but now USDC is also being affected, albeit in a partial manner.
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AI Analysis
The decision by OKX to halt support for USDC indicates a broader shift in the exchange's strategy concerning stablecoins. With the scheduled shutdown coming into effect on June 13, users holding USDC ...
AI Recommendation
It is strongly advised for users with USDC holdings on OKX to promptly withdraw or convert their funds into other stablecoins or cryptocurrencies before June 13 to avoid automatic conversions or force...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.