Binance, the world's largest crypto exchange,bitcoin withdrawals for an hour late on Sunday and for about three hours on Monday, saying there was a glut of pending transactions because it hadn't offered so-called miners a high enough reward to log the trades on the blockchain.
The company said its set fees did not anticipate a recent surge in bitcoin-network gas fees - the payments made to crypto miners whose computing power processes transactions on the blockchain. "There were so much traffic congestion and also the gas fees were so high over the weekend ... even by historical standards," Oppenheimer's Owen Lau told Reuters.In March, it hadReporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Devika Syamnath
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