Binance will pause deposits and withdrawals for assets on the Sei (SEI) blockchain as the network gears up for its latest upgrade.
The temporary freeze will begin on August 4, 2025, ahead of the scheduled upgrade set to take place at block height 160,945,710, which is expected around 03:00 CEST on August 5.
According to the exchange, trading for SEI and other tokens running on the network will continue as normal throughout the process. Binance will manage all technical adjustments internally, allowing users to avoid any action on their end. Deposits and withdrawals will resume once the upgrade is finalized and the blockchain is confirmed to be operating smoothly.
The Sei token plays a central role in the network’s ecosystem, functioning as a staking asset, payment method for transaction fees, and governance tool for protocol decisions. With a capped supply of 10 billion SEI, a substantial portion is reserved for community initiatives and the expansion of the network’s ecosystem.
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Source: https://coindoo.com/binance-prepares-for-sei-network-upgrade-temporarily-halts-deposits-and-withdrawals/