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.
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.