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  • Binance will suspend US dollar transfers from Wednesday, and that's reportedly causing millions to flow to rival exchanges

    02/07/2023 4:30:19 AM PST · by EBH · 13 replies
    Market Insider ^ | 2/7/23 | Ryan Hogg
    Binance, the world's largest crypto exchange, will suspend US dollar transfers from Wednesday, and the move is reportedly fueling millions of dollars in outflows from the platform to rivals. A company spokesperson told several outlets Monday, including CNBC and Bloomberg, that deposits and withdrawals of dollars would cease indefinitely, without giving a reason for the move. Transfers in other fiat currencies such as the euro were unaffected... In a tweet, Binance US, the US arm of the group, said it was unaffected by the restriction, indicating the suspension would only affect dollars held by non-US customers. According to data provided...