Crypto Alert: Binance Suspends Dollar Bank Transfers

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“As of February 8, we will temporarily suspend all bank transfers in dollars. Only a small portion of our users will be affected by this and we are working hard to restart the service as soon as possible. All other methods of buying and selling cryptocurrencies will not be affected.”

This has been announced by Binance, the largest crypto exchange in the world, which temporarily suspends its withdrawals in dollars through bank transfers.

“It is worth noting that dollar bank transfers are leveraged by only 0.01% of our monthly active users. However, we appreciate that this is still a poor user experience and the team is working to resolve this issue quickly,” said Changpeng Zhao, CEO of Binance on his Twitter account (NYSE:TWTR) in that regard.

“While some banks withdraw support for cryptocurrencies, other banks are moving in. Some setbacks were expected from last year’s incidents. In the long run, keep building,” Zhao adds.

Problems in the crypto platform sector have reached the giants of the industry. After the bankruptcy of FTX, all eyes were on Binance, although from the management they want to downplay the situation.

The cryptocurrency sector is trading mixed this morning, with Bitcoin anchored at the $22,000 level and Ethereum in the 1,600.

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