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A comment on Binance sees $2B in outflows as troubles compound. Parent comment

Re:Binance sees $2B in outflows as troubles compound by polygamous_bat on Wednesday March 29, 2023 @04:03AM (#35354041)
> So far they've not skipped a beat as a result.

Except for all the times they have "halted withdrawals" while Tether printed out a couple billion fun bucks. Don't trust me, look for yourself: https://www.google.com/search?q=binance+halts+withdrawals

[ Parent | on HN ]
Re:Binance sees $2B in outflows as troubles compound by detrites on Wednesday March 29, 2023 @04:10AM (#35354078)
It's impossible to run a crypto exchange without halting withdrawals periodically, especially when runs are happening.

This is due to the security balance between difficult-to-access cold wallets containing the majority of funds, and easy-to-access hot wallets containing the minimum required for expected daily operations.

No idea on the coincidence with Tether minting, other than Tether mints often whether directly or indirectly as a result of market conditions, which of course may also be influencing exchange withdrawal dynamics.

[ Parent | on HN ]