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Also Read: Is XRP Lawsuit Ruling Key For Coinbase Against US SEC?
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GALA To Perform Contract Swap
As per the announcement, Binance will be backing the contract swap on the Ethereum (ERC20) network. It added that the deposits and withdrawals of old GALA on the Ethereum (ERC20) network will be suspended and will not be supported henceforth.
However, Binance mentioned that it will be handling all technical requirements for all users holding GALA on the crypto exchange. A separate announcement for the users will be made after the completion of the contract swap, it added.
Also Read: Why Didn’t Ripple Register XRP With US SEC? Brad Garlinghouse Replies
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24/7 Cryptocurrency NewsGALA announced that the snapshot/upgrade is scheduled to take place on Monday, May 15th. However, $GALA stored on the exchange, not on the list might not be recovered ahead.