Wyre Limits Customers’ Daily Withdrawals to Less Than 90% of Their Funds
Key Points: Wyre stated that customers can only withdraw 90% of their account balances. However, this is subject to the current daily limits.
Yanni Giannaros has been promoted to the role of Executive Chairman. Stephen Cheng will take over as interim Chief Executive Officer.
Wyre, a cryptocurrency payment platform, announced a regulation change that would limit users’ withdrawals at no more than 90% of funds in each account. Customers will still be able withdraw their funds. However, withdrawals will be limited to no more that 90% of funds in each customer’s account.
We are changing our withdrawal policy. Customers will still be able withdraw funds. However, we have changed our withdrawal policy to limit withdrawals to no more that 90% of funds in each customer account. This is subject to the current daily limits.
This new regulation will apply to all clients who use its services. Any withdrawal requests exceeding this limit will not be accepted. Wyre stated that the company will be better prepared to deal with any future financial crises by limiting what consumers can withdraw. According to Wyre, the company’s increased withdrawal limit would allow it to trade in the current market environment.
We are committed to acting in the best interests of our community. We are currently exploring strategic options for our company to help us navigate the current market and fulfill our mission to simplify and revolutionize global payments.
The firm also provided an update on the management structure. Yanni Giannaros was promoted to the role of Executive Chairman, and Stephen Cheng will take over as interim Chief Executive Officer. This follows allegations that Wyre was closing the company. Wyre also stated that operations will continue.
We are continuing to operate and will share as much information as possible with the community.
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