Binance, the world's biggest crypto exchange, said it had ‘temporarily paused’ withdrawals of the major stablecoin USDC
LONDON, Dec 13 - Binance has registered $1.9 billion of withdrawals in the past 24 hours, blockchain data firm Nansen said on Tuesday, as the world's biggest crypto exchange said it had "temporarily paused" withdrawals of the USDC stablecoin.
"Binance's withdrawals are increasing due to the growing uncertainty about its reserves report," a Nansen spokesperson said. A Binance spokesperson earlier said it always had "more than enough funds" to meet withdrawal requests. "User assets at Binance are all backed 1:1 and Binance's capital structure is debt free," the person said.
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