Nigerian fintech lawyer Senator Ihenyen said the new central bank guidelines which bar the withdrawal of cash from accounts operated by virtual asset service providers (VASPs) seem “reasonable and understandable.” The lawyer however believes an “outright” prohibition of cash withdrawals from VASPs operated accounts may “be in conflict with the CBN’s own cashless policy.” ‘Fraudulent […]
The now-inoperative crypto lending firm Celsius has announced the opening of withdrawals for select “Eligible Custody Users,” as declared in a recent statement on Wednesday. These custody account holders now have the opportunity to withdraw approximately 72% of their cryptocurrency assets, with the deadline set for February 28, 2024. Celsius Announces Limited Withdrawal Window for […]
Following the settlement with the U.S. Department of Justice (DOJ), Binance, the world’s leading crypto exchange by trading volume, has experienced a significant withdrawal of approximately $ 1.7 billion in digital assets, as reported by Nansen, a blockchain analysis company. This substantial outflow of funds from Binance occurred shortly after the settlement. As of …
Crypto exchange Binance US has suspended withdrawals in U.S. dollars. Users who want to withdraw their USD funds must first convert them into stablecoins or other cryptocurrencies, which can then be withdrawn. Binance US Updates Dollar Withdrawal Policy Binance US, the U.S.-based cryptocurrency exchange affiliated with Binance, updated its terms of use on Tuesday. The […]
The bankrupt estate of cryptocurrency exchange FTX is suing blockchain company Layerzero Labs in an attempt to claw back a $ 45 million deal and over $ 40 million in withdrawals made in the days before FTX filed for bankruptcy. The lawsuit alleges that Layerzero exploited FTX’s financial distress to negotiate a fire-sale …