Binance has restricted the withdrawal of USDC stablecoin
Bitcoin exchange Binance has suspended cashouts in USD Coin (USDC) stablecoin on the Tron, BNB Chain, and Ethereum networks. The restrictions did not affect USDT and BUSD.
“Binance is conducting a token swap involving USDC. As a result, USDC withdrawals are temporarily suspended. Withdrawal of USDT and BUSD is available and unaffected. USDC withdrawal will open after the completion of the exchange of tokens, ”Binance explained.
The head of the trading platform, Changpeng Zhao, noted an increase in demand for USDC withdrawals. He expects the situation to recover after the reopening of banks in a few hours.
“1:1 conversion, no margin or leverage. We will also try to install more sharing channels in the future. At this time, you can withdraw any other stablecoin: BUSD, USDT and others,” Zhao wrote.USDC withdrawal in alternative blockchains is available - Avalanche, Solana, Polygon and others.
