Updated at 17:50 UTC: OKX updated its announcement saying it halted support instead of delisting the tokens. Changed headline to reflect recent updates.
Updated at 15:58 UTC: Binance has resumed deposits for USDT, according to a new blog post.
Binance and OKX suspended support for the Solana blockchain versions of the two largest stablecoins – Circle’s USDC and Tether’s USDT – the exchanges announced separately in blog posts on Thursday.
Binance and OKX did not return requests for comment at press time.
The exchanges didn't explain the reasons behind the move, which created confusion in the crypto industry.
Jeremy Allaire, CEO of USDC issuer Circle, tweeted that USDC on Solana – which is natively issued by Circle – is functioning fine. “[It’s] not clear what the motivations are for exchange actions, which are disappointing.”
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