By : Franyi Sarmiento, Ph.D., Inspenet, June 13, 2022
Binance, the world’s largest cryptocurrency exchange, announced Monday that it has temporarily suspended its clients’ bitcoin withdrawals “due to a stuck transaction causing a delay.”
On this day, bitcoin reached its lowest since 2020, while the CEO of Binance, Changpeng ‘CZ’ Zhao, indicated that the reason for the “temporary pause” is due to “a stuck transaction causing a delay”.
Initially, Binance founder and CEO Changpeng ‘CZ’ Zhao indicated in a tweet that the “temporary pause” would be fixed in approximately 30 minutes. However, he later acknowledged that “it is likely” that the problem “will take a little longer to fix than initially estimated.”
The CEO of the exchange specified that “this is only affecting the Bitcoin network” and that Binance clients “can still withdraw bitcoins on other networks such as BEP-20”.
Zhao added that “the funds are SAFU,” an acronym that stands for “Safe Asset Fund for Users,” or in other words, a fund that the company established in 2018 to help protect users.
Source Actualidad RT in Spanish : https://actualidad.rt.com/actualidad/432710-mayores-bolsas-criptomonedas-binance-suspende-bitcoines?utm_source=rss&utm_medium=rss&utm_campaign=all
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