12-13-2022, 07:56 PM
Binance temporarily halts withdrawals of stablecoin USDC as investor concerns mount after FTX collapse
- Binance, the world’s largest cryptocurrency exchange, said Tuesday it is pausing withdrawals of the stablecoin USDC while it carries out a “token swap.”
- Changpeng Zhao, CEO of Binance, tweeted on Tuesday that the exchange is seeing an increase in withdrawals of USDC.
- The move comes as investor concerns grow about Binance’s stability following the collapse of rival exchange FTX as well as a report of a potential criminal investigation from the U.S. government.
![[Image: _QfjJ1Yjs9BMXs0Bxda8obzKsdYRfpvg4bhfhRi2...w1052-h592]](https://play-lh.googleusercontent.com/_QfjJ1Yjs9BMXs0Bxda8obzKsdYRfpvg4bhfhRi20a9ESj6bvbLX4opKqQzhf8EM8g=w1052-h592)
Binance, the world’s largest cryptocurrency exchange, said Tuesday it is pausing withdrawals of the stablecoin USDC
while it carries out a “token swap.”
The move comes as investor concerns grow about Binance’s stability following the collapse of rival exchange FTX as well as a report of a potential criminal investigation from the U.S. government.
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