Binance halts withdrawals of USDC
The biggest crypto exchange saw $1.6 billion in outflows over the last 24 hours
Binance had previously decided to auto-convert USDC tokens to BUSD for all depositors
Facing an unprecedented surge in withdrawal requests, Binance was forced to halt withdrawals of the USDC coin.
In a statement released Tuesday, 13 December, cryptocurrency exchange Binance said that it is pausing USD Coin (USDC) withdrawals due to token swap operations.
“USDT & BUSD withdrawals are available and unaffected. USDC withdrawals will reopen once the token swap is completed,” the exchange wrote on Twitter.
Binance CEO Changpeng “CZ” Zhao acknowledged that the exchange saw increased withdrawals of USDC. CZ claims that there’s no risk to user funds. Rather, Binance elected to pause withdrawals because the token swaps involved going through a traditional bank in NYC.
„The banks are not open for another few hours. We expect the situation will be restore
We współpracy z: https://dailycoin.com/binance-pauses-usdc-withdrawals-amid-massive-outflows/
