Binance: What led them to stop withdrawals

Binance, the world’s largest cryptocurrency exchange moved to halt withdrawals in Bitcoin following founder and CEO Changpeng Zao’s announcement on Twitter.

- Advertisement -

The news comes amid a crash of cryptocurrencies, with the Bitcoin down 15% in the last 24 hours, while the Ethereum is at -16%.

Binance explained that “a batch of Bitcoin transactions got stuck due to low transaction fees, “resulting in a delay” in Bitcoin withdrawals from the network.

“Our team is working to find a solution to the problem so that withdrawals can resume as soon as possible,” it added. “Stay tuned for further updates.”

The cessation of withdrawals comes amid increased regulatory control of exchanges cryptocurrency exchanges by the US authorities.

The Securities and Exchange Commission is reportedly investigating Binance Holdings Ltd for a possible violation of securities laws since it issued the BNB token, which provides traders on the platform with lower fees.

Previous Articles:

- Advertisement -

Latest

Uniswap (UNI) Rebounds Above $6 After Brief Uptrend Breakdown

Uniswap's UNI token dropped below its key uptrend line following a failed hold above the $6.00 support level.High trading volumes accompanied the decline, including...

Michael Saylor Invites Joe Rogan to Discuss Bitcoin on Podcast

Michael Saylor has shown interest in discussing Bitcoin on The Joe Rogan Experience podcast.The idea has generated excitement in the Bitcoin community, with some...

Congress Debates Stablecoin Bill Amid Rising Bank and Crypto Tensions

U.S. lawmakers are moving forward with the Senate Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with debates set to resume after...

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

Must Read

17 Best Audiobooks On Blockchain Technology For Beginners

If you're looking to dive into the world of blockchain technology, you're in for a treat. The field is rapidly evolving and the potential...