.StargateFinance will no longer reissue its STG token, leading to Bitfinex and Binance to promote its original token. LizKNapolitano
StargateDAO initiallyof reissuing all STG tokens by March 15 after it uncovered security risks posed by “illegitimate STG transfers from compromised Alameda wallets,” where roughly 10% of STG tokens are held. However, the DAO abandoned those plans when liquidators of FTX, Alameda’s sister company,"[The reissuance] was to try to help the safety of the tokens in question.
As a result, Bitfinex and Binance are now revoking scheduled STG contract swaps on various blockchains. They have also taken steps to ascertain whether their users who have STG holdings are, in fact, holding original STG tokens and not reissued tokens.
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