Binance suspends Bitcoin withdrawals: CZ says funds are 'SAFU'

Binance suspends Bitcoin withdrawals: CZ says funds are 'SAFU'

Crypto’s Black Monday continues to wreak havoc. Changpeng Zhao, the CEO of crypto exchange Binance, tweeted that there would be a temporary pause on Bitcoin (BTC) withdrawals.

Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update.

Funds are SAFU.

— CZ Binance (@cz_binance) June 13, 2022

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CZ, who often lends his opinion to projects and the market, regularly tweets on behalf of Binance to his 6.4 million followers. He quickly updated the tweet to show: 

This is only impacting the Bitcoin network. You can still withdraw Bitcoin on other networks like BEP-20.

SAFU is a meme that plays on the word ‘safe,’ first appearing in a Youtube video three years ago, while it also refers to Binance’s

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