Binance resumes withdrawals as many retail crypto investors monitor exchanges

Binance resumes withdrawals as many retail crypto investors monitor exchanges


Major crypto exchange Binance has announced that it had resumed Bitcoin withdrawals after more than three hours amid extreme market volatility. 

In an update during what many are calling cryptocurrency’s “Black Monday,” Binance said on its website the exchange would be processing Bitcoin (BTC) network withdrawals within “the next couple of hours” following the resumption of activity. The platform announced Monday that it had temporarily paused BTC withdrawals, with CEO Changpeng Zhao saying on Twitter that all user funds were “SAFU.”

#Bitcoin network withdrawals have now resumed on #Binance.https://t.co/FhxXi3LeBg

— Binance (@binance) June 13, 2022

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While BTC trading activity on Binance seems to have been restored, withdrawals for users on Celsius have remained frozen since Sunday, when the platform announced such actions put it “in a better position

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