Crypto exchange Binance freezes withdrawals of stablecoin USDC as rattled investors pull $2 billion in funds

Dec 13 2022 by Business Insider

 
Crypto exchange Binance has paused withdrawals of the key stablecoin USDC, chief executive Changpeng Zhao said Tuesday.

Patricia De Melo Moreira/AFP/Getty Images

Leading crypto exchage Binance temporarily halted withdrawals of the USDC stablecoin on Tuesday. Customers have pulled over $2 billion in funds in 24 hours as concerns about its stability grow. Questions about Binance's reserves and a potential investigation are in focus after FTX's collapse.

Binance has temporarily paused withdrawals...

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