![]() "The feature of liquid dollar digital currencies should be that they are redeemable on demand, and at par at all times, even during conditions of stress," Disparte added.įor a weekly update on cryptocurrencies and digital assets sign up for Reuters Crypto Wire newsletter here. Dante Disparte, Circle's chief strategy officer and head of global policy, said that there will be "challenges" relating to liquidity and redemptions when assets are swapped in the way Binance has done with USDC. ![]() USDC, issued by U.S.-based firm Circle, is the world's second-biggest stablecoin. We expect the situation will be restored when the banks open." Lightning Bitcoin is -1.23 in the last 24 hours with a circulating supply of 3.86M. The problem was due to a stuck transaction. LBTC to USD price is updated in real-time. The world’s largest crypto exchange by trading volume, Binance, resumed withdrawals of bitcoin ( BTC) after a pause early Monday, the company said. "The banks are not open for another few hours. The live price of Lightning Bitcoin is 0.2812249 per (LBTC / USD) with a current market cap of 1.09M USD. ![]() Zhao said on Tuesday swapping USDC with two other tokens - Paxos Standard and Binance USD - requires using traditional dollars at a bank in New York. "User assets at Binance are all backed 1:1 and Binance's capital structure is debt free," the person said.Īsked whether Binance had enough USDC to meet USDC withdrawal requests, the person added it may need to move funds to online "hot" digital wallets from offline wallets, convert stablecoins from one another or carry out network upgrades, sometimes causing delays.īinance said in a tweet around 1654 GMT that USDC withdrawals had resumed.Ĭrypto news outlet CoinDesk reported earlier that Binance saw outflows of $902 million on Monday.īinance said in September it would automatically convert user balances and new deposits of USD Coin and two other stablecoins into its own stablecoin, Binance USD. Volatility Shares says its 2x leveraged bitcoin futures exchange-traded fund will be based on CME. ![]() Some days we have net withdrawals some days we have net deposits."Ī Binance spokesperson earlier said it always had "more than enough funds" to meet withdrawal requests. "We saw some withdrawals today (net $1.14b ish). The withdrawals were "business as usual," Binance CEO Changpeng Zhao tweeted. "Binance's withdrawals are increasing due to the growing uncertainty about its reserves report," a Nansen spokesperson said. The $1.9 billion of withdrawals of tokens based on the ethereum blockchain mark the largest daily outflow over a 24-hour period since June 13, the Nansen data showed, and accounted for the majority of the funds being pulled in the last seven days. Jesse Coghlan 1 minute ago Binance Australia got 12 hours' notice before it was debanked, says exec Binance Australia head Ben Rose claimed the exchange got less than a day's warning from its. ![]()
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