Breaking: FTX To Suspend LUNC, USTC Deposits And Withdrawals, Delist ANC

Crypto derivatives exchange FTX on Monday said it will suspend deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC) from September 12 at 14:00 UTC. In addition, FTX will end support for Anchor Protocol, delist ANC, and suspend ANC spot and futures on September 12.

FTX Ends Anchor Support, Suspends LUNC and USTC Deposits and Withdrawals

Crypto exchange FTX, in an official announcement on September 5, revealed that deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC) will be suspended on September 12 at 2 PM UTC.

FTX Wallet will no longer support deposit and withdrawal services. However, the crypto exchange will continue to support the “convert function” for LUNC and USTC.

FTX recommends completing deposits and withdrawals before the deadline. Deposits and withdrawals made after the deadline will not credit to wallets.

In addition, FTX will delist Anchor Protocol (ANC) token. It will also end support for ANC spot and futures markets on September 12 at 2 PM UTC.

FTX will cancel all ANC/USD and ANC-PERP orders, cease trading on ANC/USD and ANC-PERP markets, and suspend ANC deposits and withdrawals. Moreover, ANC-PERP will cash-expire to a 1-hour TWAP of its corresponding index prices.

However, the “convert function” for ANC will be available on the crypto exchange.

Last week, FTX supported the Terra Classic (LUNC) network upgrade on August 26. It reopened withdrawals for all Terra Classic tokens after a successful upgrade.

Binance earlier announced the suspension of Terra Classic and TerraClassicUSD due to the closure of the Shuttle Bridge. This ended deposits and withdrawals of Terra Classic (LUNC) via the Ethereum network. However, users can still use the Terra Classic network to deposit and withdraw their LUNC and USTC tokens.

Terra Tokens Gets Community Support

Terra community continues to support Terra Classic (LUNC) and TerraClassicUSD despite the Terra crisis. In fact, all Terra tokens LUNA, LUNC, and USTC saw massive daily trading volume.

The community aims to recover prices through burning, staking, building projects, ecosystem education, and governance. The Terra Classic price is trading at $0.0002669, up nearly 7% in the last 24 hours.

Meanwhile, USTC and LUNA are trading strongly, up over 3% and 1%, respectively.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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