1/23/2024 0 Comments 1 binance to usdHalted withdrawalsĮarlier on Tuesday, Binance halted withdrawals of USDC, citing a “token swap” – where digital token holders exchange their crypto-coins, typically over different blockchains. Splits between US Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation focused on Binance’s compliance with US anti-money laundering laws and sanctions, Reuters reported on Monday. “User assets at Binance are all backed 1:1 and Binance’s capital structure is debt free,” the person said.Īsked whether Binance had enough USDC to meet USDC withdrawal requests, the person added it may need to move funds to online “hot” digital wallets from offline wallets, convert stablecoins from one another or carry out network upgrades, sometimes causing delays.īinance said in a tweet about 16:54 GMT that USDC withdrawals had resumed.Ĭryptocurrency news outlet CoinDesk reported earlier that Binance saw outflows of $902m on Monday.īinance has already been under pressure from authorities. □Ī Binance spokesperson earlier said it always had “more than enough funds” to meet withdrawal requests. I actually think it is a good idea to “stress test withdrawals” on each CEX on a rotating basis. Some days we have net withdrawals some days we have net deposits. We saw some withdrawals today (net $1.14b ish). Some days we have net withdrawals some days we have net deposits.” “We saw some withdrawals today (net $1.14b ish). The withdrawals were “business as usual,” Binance CEO Changpeng Zhao tweeted. “Binance’s withdrawals are increasing due to the growing uncertainty about its reserves report,” a Nansen spokesperson said. The $1.9bn of withdrawals of tokens based on the Ethereum blockchain mark the largest daily outflow over a 24-hour period since June 13, the Nansen data showed, and accounted for the majority of the funds being pulled in the last seven days. The report showed its holdings of Bitcoin exceeded customer deposits on a single day in November. Keep reading list of 4 items list 1 of 4 ‘Important day’: US celebrates fusion energy breakthrough list 2 of 4 ‘You’re not welcome’: Mexico City residents decry Airbnb list 3 of 4 European parliament sacks vice president amid corruption probe list 4 of 4 Morocco shirts sell out as World Cup fever grows end of listīinance, whose dominance of the cryptocurrency market was cemented by the fall of FTX, last week tweeted a so-called “ proof-of-reserves report” by audit firm Mazars.
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