Binance resumes USDC stablecoin withdrawals after temporary pause
Binance has resumed processing withdrawal requests of the USD Coin (USDC) stablecoin after pausing them for several hours. Binance, the world's largest cryptocurrency exchange platform by daily volume, temporarily stopped processing USDC withdrawals.
Binance holds a large majority of its stablecoin holdings, more than $11.5 billion in Paxos-issued BUSD, according to Nansen data. To increase its USDC reserves, it made efforts to swap its BUSD holdings with USDC. This hindered the exchange's ability to process these transactions, so the exchange temporarily paused USDC withdrawals while it conducted a token swap.
Source
@Bitcoin_Ethereum_Altcoins
