Market Cap: $3,532,043,383,936
24h Vol: $90,506,682,984
Cryptocurrencies: 24715
Markets: 95953
Cryptocurrencies: 24715
Markets: 95953
Market Cap: $3,532,043,383,936     
24h Vol: $90,506,682,984
Seeking Alpha 2022-12-13 17:50:37

Binance resumes USDC stablecoin withdrawals after brief halt

Binance resumes USDC stablecoin withdrawals after brief halt
Binance has resumed withdrawals of dollar-pegged stablecoin USD Coin ( USDC-USD ) following a brief suspension earlier on Tuesday, the cryptocurrency exchange wrote in a Twitter post . That implies the recently conducted token swap involving USDC ( USDC-USD ) has been completed. A token swap refers to one crypto being swapped for another without using fiat currencies like the U.S. dollar. Changpeng Zhao, the firm's CEO, noted an increase in USDC ( USDC-USD ) withdrawals, taking to Twitter that Binance saw ~$1.4B net withdrawals during the session. "We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us," he said , adding that it's likely a "good idea to 'stress test withdrawals' on each CEX [centralized exchange] on a rotating basis." In November, Binance halted deposits of Tether ( USDT-USD ) and USDC stablecoins on the Solana network .
esptco-banner img
Latest News

Videos

  • All About Blockchain Secrets | Simply Explained!

  • How To Buy NFTs? Step by Step Guide for Beginners

  • 10 Ways to Make Money Via Crypto | Step by Step Guide to Make Money Online!

  • Litecoin: What is Litecoin? EXPLAINED!

Our Partners

Hashing Ad Space
Inbound Junction
Magic Logix
Asimi
Crypto Marketing Agency, FINPR
Chainwire