The post Binance Chaos: $4.6B Outflows, Withdrawals Halted – CZ Speaks Out! appeared first on Coinpedia Fintech News
Binance, one of the largest cryptocurrency exchanges in the world, is facing a difficult situation right now. The exchange had to halt $BTC withdrawals three times in a single day and went offline for several hours. Mysteriously, Bitcoin volume plunged by over 65% in the last 30 days. To add fuel to the flames, a record outflow worth $4.6 billion was recorded by the whales. So, what is happening to Binance? Is everything all well? Is Binance failing? Let us analyze the red flags.
Bitcoin Withdrawals Halted, But Why?
Binance had to halt Bitcoin withdrawals three times in a single day, causing panic among users who were unable to access their assets. Binance responded, stating that a high volume of pending transactions and unanticipated surges in network gas fees were the primary reasons behind the temporary halt. But is this explanation enough for the world’s largest
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