Crypto exchange Binance has suspended the withdrawal of bitcoins

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The founder of the Binance trading platform, against the backdrop of falling rates of major cryptocurrencies, announced that exchange users will not be able to withdraw BTC from the Bitcoin blockchain.

Changpeng Zhao posted
announcement on Twitter, adding that he hopes to soon resume the function of withdrawing the first cryptocurrency.

“There has been a temporary suspension on Binancewithdrawal of BTC to US dollars due to a stuck transaction causing a delay. The problem should be fixed in 30 minutes. Information will be updated as the problem is resolved. The funds are in SAFU,” explained the head of the exchange.

SAFU is a safe asset insurance fund for users that its exchange created four years ago.

A few minutes after the first postBinance CEO clarified that solving the problem will take more time. Zhao claims that the problem only affected the Bitcoin blockchain. According to him, BTC remains available for withdrawal on other networks:

“You can still withdraw bitcoins atother networks such as BEP-20. We will soon update information on the resumption of withdrawal of assets from the Bitcoin blockchain. Thank you for your patience and understanding."

The announcement to move assets to SAFU came amid the suspension of the withdrawal of assets from the Celsius platform and the fall of Bitcoin.