In this sense, the founder and CEO of Binance, Changpeng Zhao, announced through his Twitter profile the temporary suspension of BTC withdrawals on the platform “due to a stuck transaction”, adding that the problem should be fixed in a few 30 minutes, although he later announced that “it will probably take a little longer to fix”.
Binance’s troubles come on top of a decision announced Monday by Celsius Network to suspend all withdrawals, trades, and transfers between accounts as a result of “extreme conditions” in the market. “We are making this decision to put Celsius in a better position to meet its retirement obligations over time,” the platform said in a statement.
The firm, which allows its users to use their crypto assets as collateral to finance their projects, explained that it decided to activate a clause in its Terms of Use that will allow this process to be carried out, stressing that it has “valuable assets” and is working diligently to meet their obligations.
“We are taking this necessary step for the benefit of our entire community to stabilize liquidity and operations while taking steps to preserve and protect assets.”he added, noting that customers will continue to accumulate the corresponding rewards during the suspension.
The “corralito” of Celsius Network occurs just a few weeks after the turmoil unleashed by the ‘cryptos’ Terra and Luna, which has sunk the price of bitcoin, which this Monday yields more than 13% to change below the $24,000 in minimums since the end of 2020.
Source: Ambito
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