Binance will retire existing deposit addresses in a new phased infrastructural upgrade

Man holding a phone with Binance written on it

Binance said that existing deposit addresses will be retired latest by September 2023. The phased retirement of the addresses associated with deposits at the exchange will commence this July. In a blog post released by the exchange on July 6, Binance said that this is on account of its ongoing upgrade which will result in a better security for the funds of its customers.

Binance said that it will notify users affected at every stage of the upgrade. The statement said,

“Inmail notifications will be sent out in batches to impacted users. It is strongly encouraged that all impacted users obtain a new address and memo (if applicable) upon receiving the notification. ”

It added that migration is scheduled for this July.

Meanwhile, the Christiano Ronaldo’s NFT drop available on Binance NFT has been extended until July 23. Binance announced the launch of CR7: The GOAT NFT Collection, featuring NFTs of the former Real Madrid and Manchester United player. The NFTs, which have different rarity are available for purchase or during an auction.

While the lower rarity can be bought at the Binance NFT spot platform, the top rarity, known as Super Super Rare, which features bicycle kick NFTs of the player will be sold at an auction which commenced on July 3. The auction will run through July 23. The lowest bid for the SSR is 15,000 USDT.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative reviews.