The world's largest cryptocurrency exchange, Binance, announced that Bitcoin withdrawals were stopped due to a chain problem due to the extremely volatile Bitcoin. Binance CEO Changpeng Zhao stated that it has been decided to suspend Bitcoin withdrawals due to the extremely volatile market. Stating that the suspension is a chain process and due to accumulation, Zhao also said that users' money is safe.
Although efforts were made to solve the problem in Binance, such a pause when the markets were falling began to be interpreted differently by the crypto money markets. There was no problem in Binance for a long time, no outages. Bitcoin withdrawals may have been deliberately stopped to prevent hard sales in the market.
Cryptocurrency funding company Celcius Network has decided to stop transfers and withdrawals between accounts due to the extraordinary market conditions that have arisen due to sharp bearish movements. This decision was made with the lowest level seen in Bitcoin since December 2020.
“As we take steps to protect assets, we take the necessary actions to ensure liquidity and stability in our operations. In this period, when transfers and withdrawals are suspended, our customers will continue to increase their rewards and returns in line with our commitments.
Bitcoin continues its bearish wave since the weekend and is trading at $14, losing 23%.