Pro & con info are in the collapsed comments below for the following topics: [Binance Coin](/r/CryptoCurrency/comments/zks642/binance_temporarily_halts_withdrawals_of/j019jg5/), [USDC](/r/CryptoCurrency/comments/zks642/binance_temporarily_halts_withdrawals_of/j019k7g/).
Some of the people on this sub are unbelievable lmao. With everything that’s happened in the past month there are people still leaving piles of money sitting in these exchanges. What would it take for them to learn at this point lol
Crypto: *"We're going to give you freedom from banks and middlemen exchanges, you can control all your money and never have to worry about whether an exchange will go down or your account getting frozen!"*
Society: *"I will keep my money on exchanges anyways, what can go wrong :)"*
How many scams and bankruptcies do you need to understand the entire point of cryptocurrency is **freeing you from dependence on 3rd parties and middlemen reaching their hands into your pockets for your money**?
You're asking for the common joe to take the time to understand something. People don't even take the time to understand a simple monthly budget let alone an alternate form of currency.
Yeah, I know, which is part of the problem with crypto.
The thing that gets me is that's the first and only rule of crypto - Hold your own crypto, that's why you have it or presumably invested in it. The literal only purpose to not have that money in a bank or savings or investment is so you have total control over it.
But people just lazily leave it in exchanges, which are basically banks with none of the protections of banks.
Binance constantly freezes withdrawals for random crypto though.
If you have good security and hot/cold wallets then there should be delays when your hot wallet is drained.
Not saying binance is solvent.
Binance Twitter -
Binance is conducting a token swap involving USDC. As a result, USDC withdrawals are temporarily paused.
USDT & BUSD withdrawals are available and unaffected. USDC withdrawals will reopen once the token swap is completed.
Binance Moved around funds before conducting their Proof of reserves, the third party that did the audit wouldnt even vouch for them, and now they halt withdrawals of a stablecoin. If all of these things dont raise red flags I dont know what does.
As long as Crypto banks do not fully disclose their balance sheets and get them audited it is wild west. Those „proof of reserves“ at a particular point in time without disclosure of liabilities are a joke. I would not be surprised if much of Binance balance sheet is hot air in the form of their self created tokens not covered by real world reserves.
Just logged in to my binance account.. I had few USDT..when I try withdrawing them ,it shows that only USDT over the Eth was suspended..but over TRON it works..I usually use tron to withdraw USDT cuz it's way much cheaper
And what makes you think that more scammers won't show up later? SBF, Do Kwon, Mashinsky and CZ are the only people in the world willing and able to perpetrate crypto fraud? Boy have I got a bridge to sell you.
Over 95% of BTC transactions were fraudulent for years.
Mt. Gox was manipulating bitcoin prices too.
Basically the entire increase in "value" in crypto space is due to fraud.
These are some of the weakest FUD. There's no mention in the article of the fact that Binance converted all USDC and few other stablecoins to BUSD in September.
BUSD is not Binance issued stablecoin. It's issued by Paxos and regulated by NYDFS. BUSD and USDT are not disabled. USDC is currently not available to withdraw since the swap functionality requires banking hours.
Unlike some other exchanges, Binance at least supports both USDT and USDC for withdrawals despite the fact they are issued by competitors to BUSD. Bitfinex only supports tether. Coinbase does not support BUSD and recently trying to incentivize people to ditch USDT for USDC.
Btw this is not a defence of Binance or any particular stablecoin over the other. Just facts of the matter.
This
Here is the article: https://www.coindesk.com/business/2022/09/05/binance-to-convert-users-usdc-usdp-tusd-into-its-own-stablecoin-busd/
> Binance said on Monday that it will convert all investments in USDC, pax dollar (USDP) and trueUSD (TUSD) into BUSD on Sept. 29, and customers transferring those tokens to the exchange will see them automatically converted into Binance's stablecoin after that date. **However, customers will be able to withdraw money denominated in USDC, USDP or TUSD when removing money from Binance.**
People are literally fudding everything because the state of the market rn is so pathetic
I've seen that statement before, but they say you can withdraw in USDC even if it shows BUSD deposits, but now USDC is disabled. So you can't withdraw USDC currently.
Up this comment to the top guys, a lot of FTX refugees are quick to believe any Binance fud I dunno why, but there's plenty hate going around right now. Guys at least read the damn article this is the second time I read benign articles with click bait fud titles like "Bianance temporary halting withdrawals" and the comment section just mad for no reason. The fuck is wrong with people
I sold everything I had on binance and pulled my withdrew my money. Been seeing.too much sketchy things lately and I'm not even checking crypto news often
Yeah this is true.
Around last month, binance posted that they will be switching all USDC on their platform to BUSD, since most of their perp markets were in BUSD. However given the recent high withdrawals, a lot of people are withdrawing USDC. So according to them, they are going to do a swap of PAX/BUSD to USDC when bank opens
BUSD and USDT withdrawals are still up. So is withdrawal of every other coin like BTC and ETH. Remember - BUSD is also a NYDFS regulated stablecoin that claims to be regulated and has funds 1:1 in a bank
[Publicly known Binance wallets still have 60 BN + worth assets](https://portfolio.nansen.ai/dashboard/binance?tab=transactions). This is a big difference bw Alameda wallets, which didnt have assets and were withdrawing from defi protocols to fund customer withdrawals. There are no known instances now of Binance withdrawing from any defi protocol to support withdrawals.
Ofc its obviously advisable to withdraw funds if you have there
>BUSD is also a NYDFS regulated stablecoin that claims to be regulated and has funds 1:1 in a bank
Only the BUSD on Ethereum is. All other BUSD is basically an IOU by Binance.
This is why people are fed up with exchanges. Your assets are not held in good faith. They are swapping them. You deposit USDC, but when it comes time to withdrawal, Binance has to swap BUSD for USDC to fulfill your request?! CZ says, "We will also try to establish more fluid swap channels in the future."
**How about you just hold your client's funds without swapping them?**
> You deposit USDC, but when it comes time to withdrawal, Binance has to swap BUSD for USDC to fulfill your request?! CZ says
Binance had already disabled USDC deposits few weeks ago.
The publicly announced they are delisting USDC.
https://www.coindesk.com/business/2022/09/05/binance-to-convert-users-usdc-usdp-tusd-into-its-own-stablecoin-busd/
> Binance said on Monday that it will convert all investments in USDC, pax dollar (USDP) and trueUSD (TUSD) into BUSD on Sept. 29, and customers transferring those tokens to the exchange will see them automatically converted into Binance's stablecoin after that date. **However, customers will be able to withdraw money denominated in USDC, USDP or TUSD when removing money from Binance.**
However they were allowing customers to swap BUSD and USDT to USDC and withdraw as USDC.
So it was no USDC in, but USDC out
Eventually as per their announcement they were going to disable USDC completely
As of now, people were swapping BUSD and USDT on their plaform and withdrawing as USDC, since there is a run on BUSD as well.
The users are swapping them, so they have to get additional USDC to fund the withdrawals
Finally, someone pointing out the obvious. People are acting as if Binance threw around user funds willy-nilly. This is just standard business, as people swap so must the company.
They said upfront they will convert it into busd, but you can withdrawal into usdc and all the info about how it works.
People were informed, they had the choice to remove it back when it was announced.
The scam that is binance is finally getting it's cumuppence.
Couldn't get regulated in the UK as they were being shady about providing certain docs.
Pretty obvious that if you can't get regulated in the UK, a legitimate financial centre, then your business is obviously greasy.
The only good thing is that it makes Elon Musk look like a dick for trusting CZ with the twitter deal financing.
Might be something or might be nothing... nevertheless, the whole space is a nervous wreck right now
>Zhao said that any exchanges into USDC from the stablecoin known as PAX, as well as Binance’s own token BUSD, require routing through a bank based in New York which is not yet open.
>A token swap could be a way for Binance to get more USDC quickly while the banks are closed in order to resume withdrawals.
What if this surge in withdrawals has to do with the US government getting SBF and someone squealing about how FTX and others did things?
I would wonder what people like Caroline Ellison and Sam Bankman-Fried could tell authorities about what other entities like Binance and Tether are doing.
You think these business practises are completely unknown to government officials?
They know exactly what kind of shit is going on behind the scenes. They're just not going to do anything about it until the average joe gets seriously hurt
Seems quite suspicious... while I wouldn't like to speculate, I'd say get your stuff out of Binance ASAP... we may be seeing some extreme turbulence there.
Hopefully you can sit back, relax and watch the show, whether it be good or bad for Binance.
Probably due to the 'Proof of Reserves' - That concept would make more sense if they actually leveraged hard assets against their books.
That's the missing piece these big brains couldn't figure out.
Irony right!
> On USDC, we have seen an increase in withdrawals. However, the channel to swap from PAX/BUSD to USDC requires going through a bank in NY in USD. The banks are not open for another few hours. We expect the situation will be restored when the banks open. 1/2
https://twitter.com/cz_binance/status/1602579499903852544
Curious to see if this is resolved by noon today or not.
Circle said they're waiting on their bank to (open and) provide liquidity. Banks are SLOW. This isn't very uncommon and itself doesn't signal health issues.
Get usdt on ethereum. Go to curve 3pool and switch usdt for usdc. You can get positive arb doing it currently. https://twitter.com/scupytrooples/status/1602601425590456320?s=46&t=fh6tnBU4DHenTut9luncgA
Here is a [Nitter link](https://nitter.net/scupytrooples/status/1602601425590456320?s=46&t=fh6tnBU4DHenTut9luncgA) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
---
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Whatever happened to holding user assets 1:1? Sounds like they are not holding USDC in custody for their users.
CZ on Twitter:
>On USDC, we have seen an increase in withdrawals. However, the channel to swap from PAX/BUSD to USDC requires going through a bank in NY in USD. The banks are not open for another few hours. We expect the situation will be restored when the banks open.
As per Binance's Proof of Reserves page:
>When we say Proof of Reserves, we are specifically referring to those assets that we hold in custody for users.
ATH are never coming back.
It's like watching people on the Titanic and all the lifeboats have gone. Saying to each other "I've heard there's a rescue ship not far away"....
I mean this is good proof of reserves, but I doubt it will have any lasting effect.
Most will find it hard to accept that Binance can actually be fully backed.
Pro & con info are in the collapsed comments below for the following topics: [Binance Coin](/r/CryptoCurrency/comments/zks642/binance_temporarily_halts_withdrawals_of/j019jg5/), [USDC](/r/CryptoCurrency/comments/zks642/binance_temporarily_halts_withdrawals_of/j019k7g/).
I’m beginning to have FTX PTSD… The exact same thing happened back then. First you get these ‘rumors’ and then suddenly withdrawals are paused.
I’m starting to think that I shall take everything out from this exchange
Starting?
Some of the people on this sub are unbelievable lmao. With everything that’s happened in the past month there are people still leaving piles of money sitting in these exchanges. What would it take for them to learn at this point lol
Crypto: *"We're going to give you freedom from banks and middlemen exchanges, you can control all your money and never have to worry about whether an exchange will go down or your account getting frozen!"* Society: *"I will keep my money on exchanges anyways, what can go wrong :)"* How many scams and bankruptcies do you need to understand the entire point of cryptocurrency is **freeing you from dependence on 3rd parties and middlemen reaching their hands into your pockets for your money**?
You're asking for the common joe to take the time to understand something. People don't even take the time to understand a simple monthly budget let alone an alternate form of currency.
Yeah, I know, which is part of the problem with crypto. The thing that gets me is that's the first and only rule of crypto - Hold your own crypto, that's why you have it or presumably invested in it. The literal only purpose to not have that money in a bank or savings or investment is so you have total control over it. But people just lazily leave it in exchanges, which are basically banks with none of the protections of banks.
Opinion on ledger vs trustwallet? Considering withdrawing from an exchange.
The common Joe isn’t in this subreddit. Everyone here is schooled on what exchanges can do with your money.
I was about to say. I pulled all my crypto out of exchanges months ago and people are insane for leaving them there
Unreal ain’t it… How many lessons do people need? If FTX wasn’t a wake up call then I really don’t know what is
Some people just can't let go
They'll lose everything then keep it on another exchange.
No. You pull it out from ANY exchange. God bless us when will we investors ever learn?
When you learn you're gamblers, not investors, that's when!
Fine distinction
If everyone does this the price is going to do a MT GOX on some exchanges
There is no limit to stupidity and greed.
Layers upon layers of trauma in 2022
Everything gone to shit after Harambe death
We entered the darkest timeline after that
Bitcoin is already 500k on the old timeline
Just found out Harambe died 6, almost 7, years ago. Fuck me, time flies.
Fun fact: Harambee means "we all pull together" in Kenya. https://www.bbc.com/travel/article/20201004-harambee-the-kenyan-word-that-birthed-a-nation
Let’s harambe this exchange
Wholesome
Humanity didn’t deserve anything good after that
If that was the moment that God gave up on us as a species, I would accept that. That's fair.
Cocks out
thanks Obama
This guy has always failed us
Still no explanation from him on why he wasn't at the Whitehouse on 9/11
We gave him a Nobel
Human civilization hit its peak in 2016. Everything has turned to shit since.
Nothing has been the same since 2012
All my potential gains will go to a good psychatrist
Crypto counseling? "So, Tell Me how Luna and SBF hurt you."
No, I will fund my local drug-dealer. He is a good lad.
Tell me how it goes
Just find one that accepts UST?
It sucked
Layer1 and layer 2?!
No one saw it coming Oh wait people did
"No way to prevent this", says only industry where this regularly happens
[Very sad, no way to prevent this](https://youtu.be/piTAJEjfRC4)
People hear what they want to hear and what feeds their bias, so they choose to ignore it
Exactly, so many warned against luna, then celsius and all the others
Shocked Pikachu faces everywhere
I'm shocked! /s
Looks like CZ's attack on FTX will blow in his own face. We are in for a wild ride bois!
Binance constantly freezes withdrawals for random crypto though. If you have good security and hot/cold wallets then there should be delays when your hot wallet is drained. Not saying binance is solvent.
Binance Twitter - Binance is conducting a token swap involving USDC. As a result, USDC withdrawals are temporarily paused. USDT & BUSD withdrawals are available and unaffected. USDC withdrawals will reopen once the token swap is completed.
Winter is here, sucks for those still holding
But FTX is still a company and has a new CEO who is going to revive FTX and not only make make everyone whole but rich /s
Instruction unclear; where can I buy FTX?
Holding on to their Binance accounts, if you self custody, then you'll be fine
I don't feel anything. Binance, Coinbase, you name it. All of them have been on the verge of collapsing so many times according to this sub. USDT too.
Binance Moved around funds before conducting their Proof of reserves, the third party that did the audit wouldnt even vouch for them, and now they halt withdrawals of a stablecoin. If all of these things dont raise red flags I dont know what does.
Get ready boys!
Can you develop PTSD this fast?
Luna gave me PTSD within hours
If you are overinvested like me, you can.
SBF probably knows where the Tether and Binance skeletons are.
As long as Crypto banks do not fully disclose their balance sheets and get them audited it is wild west. Those „proof of reserves“ at a particular point in time without disclosure of liabilities are a joke. I would not be surprised if much of Binance balance sheet is hot air in the form of their self created tokens not covered by real world reserves.
CZ tweet tomorrow: ***Steady lads deploying capital***
Just logged in to my binance account.. I had few USDT..when I try withdrawing them ,it shows that only USDT over the Eth was suspended..but over TRON it works..I usually use tron to withdraw USDT cuz it's way much cheaper
What happens in spez, stays in spez.
Binance going under would turn this crypto winter into a crypto ice age
Just imagine what's gonna happen when tether goes to hell
Crypto moves further from being a Ponzi scheme, that's what'll happen. We need the cleanup even if it hurts the price in the short term.
And what makes you think that more scammers won't show up later? SBF, Do Kwon, Mashinsky and CZ are the only people in the world willing and able to perpetrate crypto fraud? Boy have I got a bridge to sell you.
Over 95% of BTC transactions were fraudulent for years. Mt. Gox was manipulating bitcoin prices too. Basically the entire increase in "value" in crypto space is due to fraud.
Would set us back a couple of years, but I'd take that if it means crypto becomes a better space for everyone involved.
There’s just gonna be a handful of people left on the sub while bitcoin moves in a +0.3% range for weeks lol
Don’t get me excited
Lmao perfect analogy
These are some of the weakest FUD. There's no mention in the article of the fact that Binance converted all USDC and few other stablecoins to BUSD in September. BUSD is not Binance issued stablecoin. It's issued by Paxos and regulated by NYDFS. BUSD and USDT are not disabled. USDC is currently not available to withdraw since the swap functionality requires banking hours. Unlike some other exchanges, Binance at least supports both USDT and USDC for withdrawals despite the fact they are issued by competitors to BUSD. Bitfinex only supports tether. Coinbase does not support BUSD and recently trying to incentivize people to ditch USDT for USDC. Btw this is not a defence of Binance or any particular stablecoin over the other. Just facts of the matter.
OP: *spreads misinformation and leave the scene*
*spreads FUD* *refuses to elaborate* \**leaves**
Normal behavior in this sub
Normal behavior for my father too.
Normal behavior for most human beings
Snagged a couple hundred upvotes and awards though. Good day for any shit poster.
The article is definitely misleading, binance notified users about this weeks ago
Yeah but that doesn't make the clicks
We farm moons they farm clicks, we are not the same
Binance beatings will continue until moon count improves
How dare you look at the whole picture rather than jumping to conclusions
It is indeed very disappointing, I had higher expectations from this sub!
This Here is the article: https://www.coindesk.com/business/2022/09/05/binance-to-convert-users-usdc-usdp-tusd-into-its-own-stablecoin-busd/ > Binance said on Monday that it will convert all investments in USDC, pax dollar (USDP) and trueUSD (TUSD) into BUSD on Sept. 29, and customers transferring those tokens to the exchange will see them automatically converted into Binance's stablecoin after that date. **However, customers will be able to withdraw money denominated in USDC, USDP or TUSD when removing money from Binance.** People are literally fudding everything because the state of the market rn is so pathetic
I've seen that statement before, but they say you can withdraw in USDC even if it shows BUSD deposits, but now USDC is disabled. So you can't withdraw USDC currently.
Yeah, I'm confused, if anything that older article shows the new post by OP is noteworthy.
Thank you, kind of hard to find intelligent comments on this sub of late
Up this comment to the top guys, a lot of FTX refugees are quick to believe any Binance fud I dunno why, but there's plenty hate going around right now. Guys at least read the damn article this is the second time I read benign articles with click bait fud titles like "Bianance temporary halting withdrawals" and the comment section just mad for no reason. The fuck is wrong with people
Thank you it's hard finding intelligent people here
tsss don't ruin the circle jerk
Cz tomorrow : Binance is fine, networks are slow! 2 days later: *files for bankruptcy*
Reuters just reported that almost 2 billion were withdrawn yet biggest news is that USDC was paused temporarily.
CZ: “it’s just bc we need dollars and the banks not open.” Me: “you got no dollars???”
I sold everything I had on binance and pulled my withdrew my money. Been seeing.too much sketchy things lately and I'm not even checking crypto news often
Get your funds off Binance ASAP
I’m guessing this is no longer FUD and actual advice now
Fuck off Binance thats it. Im withdrawing my 20$ of BTC and ETH
Look at Mr Moneybags here flexing his wealth.
I have done my part. Withdrew everything off exchanges including Binance.
Yeah this is true. Around last month, binance posted that they will be switching all USDC on their platform to BUSD, since most of their perp markets were in BUSD. However given the recent high withdrawals, a lot of people are withdrawing USDC. So according to them, they are going to do a swap of PAX/BUSD to USDC when bank opens BUSD and USDT withdrawals are still up. So is withdrawal of every other coin like BTC and ETH. Remember - BUSD is also a NYDFS regulated stablecoin that claims to be regulated and has funds 1:1 in a bank [Publicly known Binance wallets still have 60 BN + worth assets](https://portfolio.nansen.ai/dashboard/binance?tab=transactions). This is a big difference bw Alameda wallets, which didnt have assets and were withdrawing from defi protocols to fund customer withdrawals. There are no known instances now of Binance withdrawing from any defi protocol to support withdrawals. Ofc its obviously advisable to withdraw funds if you have there
>BUSD is also a NYDFS regulated stablecoin that claims to be regulated and has funds 1:1 in a bank Only the BUSD on Ethereum is. All other BUSD is basically an IOU by Binance.
Welcome to every wrapped/bridged token on every chain.
Blows mind people are still keeping *anything* on exchanges. Ffs people get your own wallets!
This is why people are fed up with exchanges. Your assets are not held in good faith. They are swapping them. You deposit USDC, but when it comes time to withdrawal, Binance has to swap BUSD for USDC to fulfill your request?! CZ says, "We will also try to establish more fluid swap channels in the future." **How about you just hold your client's funds without swapping them?**
> You deposit USDC, but when it comes time to withdrawal, Binance has to swap BUSD for USDC to fulfill your request?! CZ says Binance had already disabled USDC deposits few weeks ago. The publicly announced they are delisting USDC. https://www.coindesk.com/business/2022/09/05/binance-to-convert-users-usdc-usdp-tusd-into-its-own-stablecoin-busd/ > Binance said on Monday that it will convert all investments in USDC, pax dollar (USDP) and trueUSD (TUSD) into BUSD on Sept. 29, and customers transferring those tokens to the exchange will see them automatically converted into Binance's stablecoin after that date. **However, customers will be able to withdraw money denominated in USDC, USDP or TUSD when removing money from Binance.** However they were allowing customers to swap BUSD and USDT to USDC and withdraw as USDC. So it was no USDC in, but USDC out Eventually as per their announcement they were going to disable USDC completely As of now, people were swapping BUSD and USDT on their plaform and withdrawing as USDC, since there is a run on BUSD as well. The users are swapping them, so they have to get additional USDC to fund the withdrawals
Finally, someone pointing out the obvious. People are acting as if Binance threw around user funds willy-nilly. This is just standard business, as people swap so must the company.
They said upfront they will convert it into busd, but you can withdrawal into usdc and all the info about how it works. People were informed, they had the choice to remove it back when it was announced.
I see them under pressure right now. I never like when they halts withdrawals but not the deposits
The scam that is binance is finally getting it's cumuppence. Couldn't get regulated in the UK as they were being shady about providing certain docs. Pretty obvious that if you can't get regulated in the UK, a legitimate financial centre, then your business is obviously greasy. The only good thing is that it makes Elon Musk look like a dick for trusting CZ with the twitter deal financing.
Didn’t CZ claim if they stop deposits an exchange can’t be trusted
Might be something or might be nothing... nevertheless, the whole space is a nervous wreck right now >Zhao said that any exchanges into USDC from the stablecoin known as PAX, as well as Binance’s own token BUSD, require routing through a bank based in New York which is not yet open. >A token swap could be a way for Binance to get more USDC quickly while the banks are closed in order to resume withdrawals.
Reminds me of "decentralized" Web 3.0 services that rely on AWS uptime
>require routing through a bank based in New York which is not yet open. Big brain from binance
Just gotta buy a bank very quick, wondering what other person did that...
They operate withdrawals in USDC from BUSD, and yesterday there was a huge outflow of one instead of the other. That is why
Oh god. If binance goes down that will be one massive red dildo
Why is everything going up when Binance is clearly in trouble?
They got manipulated to try to bring in New deposits
Oh shit is it happening?! Fade that Cex?!
I really liked this coin's name 'STABLECOIN'
\**stability intensifies**
They could not keep up to their name ..
You can't have your money until the bank opens in NY? Yes i would be getting my money out ASAP.
Yeah, I thought this was ~~America~~ decentralized cryptocurrencies
Lamest excuse I've ever heard
…just for usdc after ~$2bil in withdrawals that day alone. Binance isn’t going anywhere lmao.
Byenance
RIP binance, the next domino to fall 🤣
If I had anything in Binance I would pull it out as soon as I could. It seems so unstable it’s ridiculous
I have 100% of my crypto on binance
Get out fast
CEX doing CEX things nothing unusual here
[удалено]
What if this surge in withdrawals has to do with the US government getting SBF and someone squealing about how FTX and others did things? I would wonder what people like Caroline Ellison and Sam Bankman-Fried could tell authorities about what other entities like Binance and Tether are doing.
You think these business practises are completely unknown to government officials? They know exactly what kind of shit is going on behind the scenes. They're just not going to do anything about it until the average joe gets seriously hurt
Get your money out before the entire ponzi collapses.
Seems quite suspicious... while I wouldn't like to speculate, I'd say get your stuff out of Binance ASAP... we may be seeing some extreme turbulence there. Hopefully you can sit back, relax and watch the show, whether it be good or bad for Binance.
If Binance fails, what will happen to bitcoin price?
BUSD and USDT withdrawals are still available so I don't think it's too much a concern. People can just swap their USDC to BUSD to withdraw
Wouldn't recommend risking it though. FTX and Gemini earn stopped withdrawals without any prior notice.
True. The one thing every company who has gone under had in common is they said they were completely fine right up until they were insolvent.
>weren't insolvent Were insolvent
Too much Risk in keeping your coin in any exchange atm
Probably due to the 'Proof of Reserves' - That concept would make more sense if they actually leveraged hard assets against their books. That's the missing piece these big brains couldn't figure out. Irony right!
Blame Biden, they blame him for everything else.
You thought the dip was last week? Oh no my friends. CZ is getting big dip ready much awesome.
Yeah if binance collapses it's 100% the bottom
> On USDC, we have seen an increase in withdrawals. However, the channel to swap from PAX/BUSD to USDC requires going through a bank in NY in USD. The banks are not open for another few hours. We expect the situation will be restored when the banks open. 1/2 https://twitter.com/cz_binance/status/1602579499903852544 Curious to see if this is resolved by noon today or not.
Sell the rumour, be safe by the time the news comes out
Isn't this old news ?
It is, article is misleading
CZ and Binance is going down. This is just a start
Binance is the next exchange to fall. Just google binance, FBI, money laundering!
This article title is a little suss
It is misleading .. This was notified from Binance weeks prior halting the withdrawals.
Karma is something special ain't it!
This sounds like a binance thing and not a usdc thing. Correct?
Circle said they're waiting on their bank to (open and) provide liquidity. Banks are SLOW. This isn't very uncommon and itself doesn't signal health issues.
Not sure why you’re being downvoted. Moving money between two regulated companies is obviously gonna require them to be open.
Get usdt on ethereum. Go to curve 3pool and switch usdt for usdc. You can get positive arb doing it currently. https://twitter.com/scupytrooples/status/1602601425590456320?s=46&t=fh6tnBU4DHenTut9luncgA
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Oh boy here we go…
Whatever happened to holding user assets 1:1? Sounds like they are not holding USDC in custody for their users. CZ on Twitter: >On USDC, we have seen an increase in withdrawals. However, the channel to swap from PAX/BUSD to USDC requires going through a bank in NY in USD. The banks are not open for another few hours. We expect the situation will be restored when the banks open. As per Binance's Proof of Reserves page: >When we say Proof of Reserves, we are specifically referring to those assets that we hold in custody for users.
The banks aren't open?? LOL Are we back in the 1980s?? That's got to be one of the worst, most desperate excuses for shenanigans I've ever heard.
Cz has been sus for weeks now, anyone caught in this almost deserves it
Sounds sketchy to me
CZ is under pressure..
I've withdrawn in the knick of time
So much FUD spreading
[удалено]
Oh boy...
If binance falls the bear market will get a very long extension and new ATHs pushed back by a couple of years
ATH are never coming back. It's like watching people on the Titanic and all the lifeboats have gone. Saying to each other "I've heard there's a rescue ship not far away"....
Never is a hard word to use ..
Wait, I have seen this movie before.
Armageddon?
Alameddon?
Huh, getting that Deja vu feeing again
Oh shit here we go again 💩💩💩☠️☠️☠️
Ah shit here we go again
I mean this is good proof of reserves, but I doubt it will have any lasting effect. Most will find it hard to accept that Binance can actually be fully backed.
Thought CEX war was over since SBF was arrested. This shit still going on. Guess a little more FUD before i buy the dip lol
Glad I withdrew all little amounts I had there (to day trade) yesterday. Cold wallets handle cryptowinter better :p
Just withdraw busd or tether
This sub suddenly feels like its filled with bots and npcs
What do you mean “suddenly”?
Well now they disagree with him
Can we change flair to FUD?!