Binance Will Support Ethereum PoW Fork If Ethereum Survives

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Cryptocurrency exchange Binance will distribute Ethereum PoW fork to ETH holders after The Merge is activated.

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“If the ETHW chain survives, Binance will meet all technical requirements regarding all users with ETH and WETH on balance and credit the token fork at a 1:1 ratio,” the exchange wrote.

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The withdrawal of ETHW will become available after some time – the trading platform will inform about this in a separate post.

In anticipation of The Merge’s expected activation on September 15, the exchange will take a number of additional measures, including the suspension of:

  • deposit and withdrawal of WETH from September 14;
  • converting WETH funds to ETH.

Users who have borrowed ETH will also have to repay the value of ETHW.

BETH holders will not receive Ethereum PoW tokens.

Binance previously warned of the imminent suspension of deposits and withdrawals of Ethereum and ERC-20 tokens amid the blockchain migration from Proof-of-Work (PoW) to Proof-of-Stake.

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Source: Cryptocurrency

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