Crypto Exchange FTX to Delist ANC, Suspend LUNC and USTC Deposits and Withdrawals

FTX Crypto Derivative Exchange said on September 5 that it would suspend deposits and withdrawals of Terra Classic (LUC) and TerraClassicUSD (USTC), and remove Anchor Protocol (ANC) tokens, starting September 12.

Although the crypto exchange will continue to support the “conversion function” for LUNC and USTC, it will suspend the ANC spot and futures markets.

FTX will cancel all ANC/USD and ANC-PERP orders and cease trading in the ANC/USD and ANC-PERP markets. ANC-PERP will expire in cash at a TWAP of one hour from its corresponding index prices. However, the “conversion function” for ANC will be available on the crypto exchange.

Last week, FTX announced its support for LUNC network upgrade. After a successful update, it reopened withdrawals for all LUNC tokens. Additionally, Binance previously announced suspension of LUNC and USTC due to shuttle bridge closure. Shuttle is a Terra-Ethereum bridge, which currently only allows Terra assets to be sent between the Terra and Ethereum networks.

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Overcoming all of its tough days, despite a LUNA meltdown and a stock market crash, LUNC recorded an increase of more than 80% on September 2. According CoinMarketCap, LUNC is trading at $0.0003757, up 47.77%. Live USTC price today is $0.036786 with a 24-hour trading volume of $121,239,955.