Binance and Celsius Block Cryptocurrencies by Freezing Bitcoin Withdrawals on Their Networks

bitcoin loses $23,000

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Binance has announced a temporary suspension, while Celsius has suspended withdrawals, trading and transfers due to “extreme conditions” in the market.

Binance and Celsius Block Cryptocurrencies by Freezing Bitcoin Withdrawals on Their Networks

On the day of panic in the markets, cryptocurrencies live their special Black Monday and two names, Binance Y Celsius Network, Contributed a lot to it. result is one Bitcoin Dumped below $23,000 and Rojo The rest set up in virtual currencies.

in one hand, BinanceThe cryptocurrency trading platform and infrastructure provider has temporarily suspended withdrawals through the bitcoin network as a result of the blockage of one of the processed batches, while bitcoin withdrawals via bitcoind remain open and function normally. other networks.

“This is because a previous batch of transactions were stuck due to low transaction fees sent and thus a backlog of refunds from the bitcoin (BTC) network,” explained the company, which will soon resume withdrawals from the network. Hoping to start.

In this sense, the founder and CEO of Binance, Changpeng Zhaofurthered the temporary suspension of BTC withdrawals on the platform “due to a stuck transaction” via his Twitter profile, saying that the problem should be fixed in about 30 minutes, although he later announced that “some of the It may take time.” More to be prepared.”

This decision is also announced this Monday with the problems of Binance Celsius Network To suspend all withdrawals, exchanges and transfers between accounts as a result of “extreme conditions” in the market.

“We are making this decision to put Celsius in Over time, better position to meet your retirement obligations“, reported the forum in a statement.

The firm, which allows its users to use its crypto assets as collateral to finance their projects, has explained that it has decided to activate a clause in its terms of use that will allow for this process. Emphasizing that “valuable asset” and working diligently to meet its obligations.

“We are taking this necessary step to stabilize liquidity and operations for the benefit of our entire community, while also taking steps to preserve and protect assets,” he said, adding that customer rewards during the suspension Will continue to earn.

Celsius Network’s ‘Playpen’ comes just weeks after baptized as crypto crash generated by Terra and its tokens Finalize the price of Luna and Bitcoin which was touched in recent days. The most popular cryptocurrency sank more than 18% this Monday and is below $23,000 (22,640), with the rest of the virtual currency pulling in. Ethereum has about 22% left, up to 1,188 greenbacks; Cardano, 17%; Solana, 21.5%, in line with others like Dogecoin (-21%).

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