Due to the lack of banking partners, Binance has stopped allowing USD deposits and withdrawals
Key Points:Binance exchange abruptly announced that it would no longer facilitate USD withdrawal and deposit activities due to the loss of a bank partner.
At the time, a Binance spokesperson stated to customers that only Signature Bank had changed its attitude. However, other partners continued to operate normally and Signature Bank accounted barely 0.01%.
Binance, the world’s largest cryptocurrency exchange, appears to be still looking for a new banking partner to handle USD deposits and withdrawals.According to a Twitter source, the Binance exchange abruptly declared that it would no longer handle USD deposit and withdrawal operations from February 9, 2023 due to the loss of a banking partner. The platform will no more handle USD withdrawals. USD deposit transactions will be denied by the platform and refunded to the sender. The adjustment will be effective from 05:00 AM on February 9 until further notice.A Binance spokesman verified the aforementioned facts, indicating that just 0.01% of users were affected.”In the meanwhile, all other crypto trading methods, including banking with other fiat currencies accepted by Binance (including euros), buying and selling crypto using credit cards, app, debit card, Google Pay, Apple Pay, or through the Binance P2P marketplace, will remain unchanged.”Previously, on January 22, Binance said that one of its US banking partners, Signature Bank, has modified the terms of its partnership with the exchange in order to decrease its exposure to the cryptocurrency industry. Binance previously stated that Signature Bank, one of its US banking partners, had modified its terms of its partnership with the exchange to reduce its exposure to the cryptocurrency industry. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuChubbiCoincu NewsTags: BinancecryptodepositmarketSignature Bankwithdrawals