Binance Pauses USDC Withdrawals; Sees $3 Billion In Outflows Since Yesterday

[araomd]

And there goes the rest of crypto?

Binance Pauses USDC Withdrawals; Sees $3 Billion In Outflows Since Yesterday

Exchange says measure is temporary, other stablecoins unaffected.

www.forbes.com

 

[The Old Jaybird]

when I hear the word "crypto", my brain thinks "magic beans".

 

[geerod]

GOOD !

 

[lostchild]

Crypto sorta like this.

 

[savannahboy]

Crypto sorta like this.

I wish I had a card trick named after me.

 

[Cadcom]

when I hear the word "crypto", my brain thinks "magic beans".

At least you could put the beans in your pocket. Crypto, not so much.

 

[Trailrider]

Where'd all my fake money go?! Lots of fallout from this. BlockFi just filed for bankruptcy, so good luck to people who had assets in there or any of these other crypto exchanges/wallets.

 

[Outlier]

Rule 1 - Not your keys, not your crypto.

Unless you day trade, there is no reason to keep anything on exchanges. I don't say it to be condescending; I foolishly made that mistake too.

Stablecoins can be convenient but the last year has shown me that from a safety standpoint you're better off staying in USD. If a US-based exchange goes under, you are the most likely to get your funds back. This is more of an issue for non-US residents.