Binance.US, the US subsidiary of the world’s largest crypto exchange Binance, has clarified the FUD claims that Bitcoin Cash (BCH) reserves are running out.
Bitcoin Cash withdrawals on Binance.US 9 July The day’s stop caused a temporary panic among the community. Some users have stated that the reason their withdrawals stopped is on Binance.US. not having enough reserves connecting the stock market to be unable to pay Rumors began to circulate among the community.
The glitch, which fueled the FUD rhetoric, was accompanied by the statement made by Binance.US and With the re-activation of withdrawal transactions resolved.
via social media in the statement All crypto assets, including Binance.US, Bitcoin Cash 1:1 reserve He emphasized that customer assets are safe while stating that it is collateralized with:
We take the security and integrity of all client assets seriously and would like to address some new BCH related FUDs. Binance.US holds a 1:1 reserve, meaning we keep one BCH in reserve for every BCH you hold on the platform. The temporary pause we experienced in BCH withdrawals earlier in the week was due to a technical issue with our deposit system.
of the US Securities and Exchange Commission (SEC) With Binance suing Binance.US, a major pullback in liquidity seen and many market maker announced that he was leaving the stock market.