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Binance has announced that it will temporarily suspend bank transfers in United States Dollars (USD) starting February 8th. Other trading methods are unaffected. Said In a tweet on February 6th.
There was no explanation for the news, but the world’s largest cryptocurrency exchange company added in the same tweet:
“We are working hard to resume service as soon as possible. [] All other methods of buying and selling crypto will not be affected. “
Binance CEO Changpeng Zhao (CZ) Said In another tweet:
It is worth noting that USD bank transfers are used by only 0.01% of monthly active users. However, we recognize that this is still a poor user experience.
The suspension seems to apply only to international Binance users such as Binance.US. murmured “Customers are not affected”
https://t.co/gM6e3xb9BX This outage has no effect.Unless you see an official message from https://t.co/gM6e3xb9BXthere is no customer impact.
Binance.US Customer Support (@BinanceUShelp) February 6, 2023
Binance has recently faced banking challenges in the US. Its SWIFT transfer partner, Her Signature Bank, announced on January 21 that from February 1, it will only process transactions by users with US dollar bank accounts over $100,000.
Binance said at the time that it was looking for new SWIFT partners and would continue to accept transactions with US dollars using credit or debit cards, like all SWIFT transactions using other currencies.
Also on February 1st, Binance It was published A list of 144 countries where USD SWIFT transfers of any size will be suspended.
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CNBC reportciting Arkham Intelligence, said the dollar-pegged Tether (USDT) and USD Coin (USDC) stablecoins quickly leaked to other exchanges, with the outflow of $42.2 billion of crypto assets on Binance. It added that it was “very small” compared to
