{"id":29789,"date":"2022-06-13T15:16:20","date_gmt":"2022-06-13T19:16:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29789"},"modified":"2022-06-13T15:16:32","modified_gmt":"2022-06-13T19:16:32","slug":"binance-resumes-bitcoin-withdrawals","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-resumes-bitcoin-withdrawals\/","title":{"rendered":"Binance resumes Bitcoin withdrawals"},"content":{"rendered":"\n

Binance cryptocurrency exchange has resumed Bitcoin withdrawals<\/a> after halting the service for three-hour due to the crypto market volatility.<\/p>\n\n\n\n

\"Binance
Binance resumes Bitcoin withdrawals<\/figcaption><\/figure>\n\n\n\n

Following the restoration of activity, Binance \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>said on its website that the exchange would be processing Bitcoin (BTC) network withdrawals within “the next few of hours.”<\/p>\n\n\n\n

On Monday, the company revealed that BTC withdrawals were been temporarily halted, with CEO Changpeng Zhao stating on Twitter that all customer funds were “SAFU.”<\/p>\n\n\n\n

\n

Binance has temporarily paused #Bitcoin<\/use><\/svg><\/span><\/a> withdrawals on the $BTC<\/use><\/svg><\/span><\/a> network. Meanwhile, you can still withdraw BTC on other networks.

This is due to a stuck on-chain transaction. Our team is currently working on a solution and will provide further updates soon.<\/p>— Binance (@binance) June 13, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

While Binance's BTC trading appears to have resumed, Celsius's withdrawals have been stopped since Sunday, when the company claimed that such moves would put it “in a better position to honor, over time, its withdrawal obligations.” Celsius <\/a>has given no indication as to when or if normal activities would resume as of the time of publication.<\/p>\n\n\n\n

Two big trading platforms decided to restrict Bitcoin withdrawals in the midst of the crypto market's extraordinary volatility.<\/p>\n\n\n\n

The price of Bitcoin (BTC) has tumbled to levels not seen since December 2020, plunging below $23,000 on Monday, while the price of Ether (ETH) has dropped to as low as $950 on Uniswap after a whale dumped 93,000 ETH <\/a>in six hours, according to Cointelegraph.<\/p>\n\n\n\n

Many people on social media appear to be waiting for the other shoe to drop, as it were, in the case of other large cryptocurrency exchanges.<\/p>\n\n\n\n

Given Coinbase's history of downtime, some have expressed concerns that the exchange, which has about 98 million verified customers, could fall offline during market volatility or otherwise announce the suspension of withdrawals.<\/p>\n\n\n\n

\n

With all the halts and posted stopped withdrawals. I\u2019ll just assume @coinbase<\/use><\/svg><\/span><\/a> will just go down for a few hours per usual in meltdowns.<\/p>— aresixtrades (@aresixtrades) June 13, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

While Kraken<\/a>, a crypto exchange based in the United States, did not announce any similar steps on withdrawals, it did note financing delays for some tokens, including Solana (SOL).<\/p>\n\n\n\n

The exchange began allowing users can use the Lightning Network to withdraw funds from their accounts in March. Despite the market volatility, Kraken Bitcoin strategist Pierre Rochard claimed the platform's Bitcoin on-chain and Lightning withdrawals were “completely operational” as of Monday, adding that “keeping your own keys is recommended practice.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance cryptocurrency exchange has resumed Bitcoin withdrawals after halting the service for three-hour due to the crypto market volatility. Following the restoration of activity, Binance said on its website that the exchange would be processing Bitcoin (BTC) network withdrawals within “the next few of hours.” On Monday, the company revealed that BTC withdrawals were been […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[],"class_list":["post-29789","post","type-post","status-publish","format-standard","hentry","category-binance"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29789"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29789\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}