Binance Releases Its Plan For Enabling A Smooth Ethereum Merge

Several platforms from the crypto industry have come forward to support the Ethereum Merge.

Recently, crypto exchange Binance has verbalized its support for the Merge, which is scheduled to take place on the 15th of September. Going beyond words, the exchange has extended support through actions as well by releasing an update for the users on what they should expect during the ETH Merge. They had also announced the suspension of deposits and withdrawals of ETH tokens some time ago, in order to pave the way for a smooth event.

Binance’s Plan of Action

On Thursday, Binance Binance - [email protected] Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment released a notice on its website regarding the Merge. It informed its users that it would be taking steps to mitigate the risks that the upgrade could bring along. The exchange has listed a series of actions it would be taking when the Merge finally occurs.

To begin with, Binance mentioned in the detailed notice that it would be suspending deposits and withdrawals of ETH and all ERC-20 tokens. This suspension will occur on two occasions – during the Bellatrix consensus layer upgrade and later during the Paris execution layer upgrade. Upgrades are likely to occur respectively at 11:34:47 AM UTC on September 6 and at approximately 12:30 AM UTC on September 15.

The exchange quoted,

“Binance will suspend deposits and withdrawals for ETH and ERC-20 tokens at approximately:

2022-09-06 11:00 (UTC) for the Bellatrix consensus layer upgrade

2022-09-15 00:00 (UTC) for the Paris execution layer upgrade

Please ensure that you leave sufficient time for your ETH and ERC-20 token transfers to be fully processed prior to the above time. We will handle all technical requirements for users holding ETH and ERC-20 tokens on Binance.”

Additionally, Binance assured that it would resume normal deposits and withdrawals post-Merge if all goes well and no new tokens are created. 

In case separate chains are formed, Binance said that it would use the ”ETH ticker” for the PoS chain. Also, the exchange would be crediting the users’ accounts with the forked token at a 1:1 ratio. The snapshot taken before the Paris execution layer will dictate the distribution.

Binance’s Stance On The Ethereum PoW Fork (ETHPoW)

Binance announced in its notice that spot trading for ETH and ERC-20 tokens will continue unaffected. Additionally, while margin trading will continue, the exchange will be pausing borrowing on September 14th and 16th at midnight (UTC). 

ETH Futures Trading will continue, but the exchange will balance a few parameters to mitigate possible risks because of high volatility.

Notably, the Binance Pool plans to remove the ETH mining service post-Merge.

Binance Supports Ethereum Upgradation

As per an official announcement, Binance will be introducing zero-fee trading for the ETH/BUSD spot trading pair on August 26. The zero-fee trading is to be enabled nearly 20 days ahead of the Merge event. 

Binance said, “All users will enjoy zero maker and taker fees for the ETH/BUSD spot trading pair. The ETH/BUSD spot trading pair will be excluded from BNB fee discounts, fee rebates, or any other form of fee adjustments or fee promotions.”

A couple of weeks ago, Binance had also said in its blog post that it is closely monitoring the Merge and will support it when it launches. The exchange recognized that the event could potentially lead to the creation of an Ethereum fork or token branch.

Binance added that it will evaluate support for forked token distribution and withdrawals. Notably, Binance had hinted that it plans to support the Proof-of-Stake version of ETH as an important update but has not ruled out the possible ETH fork.

A number of other parties have expressed their support in case ETH leads to a new fork. According to TRX founder Justin Sun Justin Sun   Justin Sun is a well-known figure in the cryptocurrency industry, entrepreneur, and former diplomat. He established the Tron blockchain DAO system and rose to prominence in the cryptocurrency space as a result of his works. He represented Grenada permanently at the WTO in Geneva as a diplomat.   Quick Facts   Full Name Justin Sun Birth 30-07-1990 in Xining, Qinghai, China Nationality Chinese, Grenadian Education Peking University, University of Pennsylvania Marital Status Unmarried as of 2025 Net Worth $2B estimated   Additionally, Justin mentors BitTorrent, Animoca, Poloniex, and other blockchain projects. He was in the news recently due to the standoff with the US SEC charge and a meal with Warren Buffet has made headlines.   Justin Sun - Career Highlights   2017: Founded TRON to revolutionize decentralized content sharing and blockchain scalability. 2018: Acquired BitTorrent to integrate decentralized file sharing into the TRON ecosystem. 2018: Launched TRON’s mainnet, offering a high-speed, scalable blockchain for digital assets. 2018: Achieved record-breaking TRX token sales, fueling mass crypto adoption globally. 2019: Forged strategic global partnerships to expand TRON's decentralized ecosystem. 2020: Advanced TRON’s role in decentralized finance (DeFi) with innovative blockchain projects. 2021: Earned media recognition in Forbes and Bloomberg as a visionary in the crypto space. 2022: Expanded TRON’s ecosystem with new DeFi, NFT, and Web3 initiatives. 2023: Pushed forward groundbreaking Web3 and NFT projects, cementing TRON's industry leadership.   In November 2024, Justin Sun contributed $30 million to World Liberty Financial (WLF). It is a cryptocurrency venture backed by the Trump family. He intervened when the project seemed to be having issues raising the money it needed, putting the Trump family at risk of receiving a payoff.   Awards & Achievements of Justin Sun   Year Title/organization Description 2018 Forbes Recognized for exceptional achievements in blockchain innovation. 2019 Crypto Awards Honored for pioneering leadership in digital currency innovation. 2020  World Blockchain Summit Awarded for driving growth in TRON’s decentralized ecosystem. 2021 Business Insider Recognized as one of the leading CEOs in the blockchain industry. 2022  CoinMarketCap Awards Celebrated for a significant impact on global cryptocurrency trends.   Useful Links To Connect with Justin Sun   Platform Link X (formerly Twitter) H.E. Justin Sun 🍌 (@justinsuntron) / X LinkedIn H.E. Justin Sun – HTX | LinkedIn Official Website https://justinsuntron.com Instagram https://www.instagram.com/justinsuntron     EntrepreneurInvestorCrypto and Blockchain ExpertChief Executive Officer , support for the new fork is part of preserving the Ethereum blockchain that uses Proof-of-Work consensus.

Chandler Guo, a prominent ETH miner, mentioned that he would be forking the Ethereum chain again. This would give rise to ETHPoW, a forked chain that would retain ETH mining post-Merge.