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Binance CEO tweets ‘business as usual’ after pausing USDC coin withdrawal Tuesday

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Binance CEO Changpeng 'CZ' Zhao said on Wednesday things have normalized after the crypto exchange paused withdrawals of its USDC coin

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The USDC is known as a stable coin for its equivalence to the U.S. dollar and can be used to trade a variety of digital assets without the need to move money back into traditional currency. "Yesterday was not the highest withdrawals we processed, not even top five," Zhao tweeted. "We have seen this before. Some days we have net withdrawals; some days we have net deposits."Recently, investors have called for more transparency from Binance’s as other noted crypto exchanges like FTX face collapse.

 

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Outflows soar at crypto exchange Binance, but CEO says it's 'business as usual'Binance, the crypto exchange formerly rivaled by bankrupt FTX, has seen $3 billion in withdrawals in the past 24 hours. FTX founder Sam Bankman-Fried was arrested in the Bahamas and charged with securities fraud in the U.S. Woow Dayyummm House of Cards.
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