On Jan. 8, crypto payments firm Wyre announced that it was “modifying its withdrawal policy.” The move adds a limit to withdrawals of no more than 90% of the funds in customer accounts. In other words, Wyre users cannot completely empty their accounts.
There are additional withdrawal limits of 5 BTC and 50 ETH per day, and limits on fiat withdrawals, however, most crypto exchanges have tiered limits.
The move suggests growing concern about insolvency and a potential liquidity crunch should jittery customers want their money back in a hurry. It could also trigger a frenzy of withdrawals which could result in more restrictions imposed.
Hey Wyre community, we want to provide you with an update regarding the current state of Wyre.
— Wyre (@sendwyre) January 7, 2023
Wyre on The Wire
Wyre added that it, too, was suffering during the lengthening crypto winter, which has been exacerbated by several high-profile meltdowns in 2022.
“Acting in the best interest of our community is our t
We współpracy z: https://cryptopotato.com/crypto-payments-platform-wyre-imposes-withdrawal-limits/
