{"id":43474,"date":"2023-01-06T03:32:04","date_gmt":"2023-01-06T07:32:04","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=43474"},"modified":"2023-01-06T03:33:48","modified_gmt":"2023-01-06T07:33:48","slug":"juno-advises-users-to-withdraw-funds-due-to-custody-concerns","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/juno-advises-users-to-withdraw-funds-due-to-custody-concerns\/","title":{"rendered":"Juno advises users to withdraw funds due to custody concerns"},"content":{"rendered":"\n
Cryptocurrency platform Juno has advised customers to use self-custody techniques<\/a> due to “uncertainty” with its custodian partner.<\/h5>\n\n\n\n
\"Juno
Juno advises users to withdraw funds due to custody concerns<\/figcaption><\/figure>\n\n\n\n

Due to “uncertainty” with its partner, the cryptocurrency company Juno\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> encouraged customers to withdraw their funds and deposit them in self-custody wallets or sell their holdings for cash.<\/p>\n\n\n\n

The company intends to resolve the issues by hiring a new associate.<\/p>\n\n\n\n

Juno stated that its custody partner has been having some issues in a recent Twitter conversation. As a result, the organization temporarily stopped allowing users to buy cryptocurrencies on its site and changed the stablecoins USDC, USDT, and mUSDC to USD automatically.<\/p>\n\n\n\n

Additionally, as a safety precaution, it advised clients to remove their assets and place them in self-custody wallets. The company also said that if customers didn't want to rely on non-custodial wallets<\/a>, they could sell their hoard for fiat.<\/p>\n\n\n\n

To prepare for a potential rush in transactions, Juno has boosted daily cryptocurrency withdrawal limits by five times for all “metal users” while announcing that other banking and card-related services continue to run smoothly.<\/p>\n\n\n\n

Since the company informed clients of its proposal, the value of the crypto assets kept on the site has decreased to $1.25 million.<\/p>\n\n\n\n

\n

\u201cWe are actively reaching out to customers and asking them to self-custody,\u201d Juno stated.<\/p>\n<\/blockquote>\n\n\n\n

The organization is trying to work with a new custody partner in order to quickly resume its operations. Additionally, it promised to stick to its crypto course and “develop and ship like we always have.”<\/p>\n\n\n\n

JUNO's fall in recent months<\/h2>\n\n\n\n

JUNO, the platform's native token, saw strong performance in the first quarter of 2022, reaching a record high of more than $45 in March. But the escalating bear market had a part, and the asset began to decline<\/a>.<\/p>\n\n\n\n

In just two months, it lost about 90% of its USD value, and it continued to decline through the end of the previous year.<\/p>\n\n\n\n

JUNO, which presently trades at roughly $1.13 (a 97% decrease from the high level), has also been harmed by the unsettling news regarding the company's custody partner and the restricted crypto purchases.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency platform Juno has advised customers to use self-custody techniques due to “uncertainty” with its custodian partner. Due to “uncertainty” with its partner, the cryptocurrency company Juno encouraged customers to withdraw their funds and deposit them in self-custody wallets or sell their holdings for cash. The company intends to resolve the issues by hiring a […]<\/p>\n","protected":false},"author":38,"featured_media":43478,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[132,12972,12973],"class_list":["post-43474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-crypto","tag-juno-2","tag-self-custody"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/image-314-1024x576-1.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/43474","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\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=43474"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/43474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/43478"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=43474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=43474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=43474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}