Crypto payments firm Wyre cuts withdrawal limits to 90% of funds

2023-1-9 23:00

Amid insolvency speculations, cryptocurrency payments platform Wyre slashed its withdrawal limits by 10% on Jan. 7. In a Twitter thread, Wyre announced that its customers can now only withdraw up to 90% of the funds in their accounts.

Users will still be subject to daily withdrawal limits, according to which only 5 Bitcoin (BTC) and 50 Ethereum (ETH) can be withdrawn each day. In addition, the daily withdrawal limit for US Dollars and Euros is set at $150,000 and €140,000, respectively.

California-based Wyre claims to be licensed as a money transmitter business across more than 30 states in the US as well as Canada, Australia, European Union, and the UK.

The firm said it is “exploring strategic options” to help it navigate the current market. Yanni Giannaros has stepped down as CEO and will be guiding the firm as executive chairman, Wyre announced.

Chief risk and compliance officer Stephen Cheng has stepped up as the interim CEO, Wyre added.

Speculations around Wyre shutting down emerged after Axios published a report on Jan. 4. According to the report, Giannaros told employees to “brace themselves” as the firm might “need to unwind the business over the next couple of weeks.”

Wyre was set to be acquired by Bolt at a $1.5 billion valuation, but the deal fell apart in September 2022. Soon after the acquisition deal was canceled, Wyre co-founder Michael Dunworth, who served as CEO until 2020, stepped away from the firm.

Giannaros told Axios that the firm was still operating but looking to scale back as it evaluates options. However, the payments firm’s latest Twitter thread reassured users that its “operations continue.”

On Jan. 5, MetaMask announced that it removed Wyre from its mobile aggregator, urging users not to use Wyre while it removed the extension.

On Jan. 6, Wyre admitted to users that it had “not been immune” to the headwinds of the current crypto industry. The crypto market has been shaken by high-profile bankruptcies throughout 2022, with the latest being FTX.

In response to the withdrawal limit cut, non-fungible token (NFT) collectibles firm Topps temporarily suspended its shop and marketplace as a precautionary measure. Wyre served as the wallet for Topps NFT marketplace.

The post Crypto payments firm Wyre cuts withdrawal limits to 90% of funds appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

World Trade Funds (XWT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 XWT

limits withdrawal wyre payments funds crypto firm

Источник: cryptoslate.com

limits withdrawal → Результатов: 28


Huge Promotions, Mega-Wins, and No Withdrawal Limits – BitStarz Does It All!

We are almost certain that you know who we are by now, after all, BitStarz is the biggest crypto casino around with the awards to prove it. 2019 has seen us become the only true place to play – no matter the currency you have burning a hole in your pocket – don’t believe us? We suggest that you keep reading… Kick Open the Door We don’t just tempt our players in with some throwaway offer, we let them kick open the doors to a huge welcome bonus that stacks the cash.

2019-4-26 22:35


Фото:

Huge promotions, mega-wins, and no withdrawal limits – BitStarz does it all!

We are almost certain that you know who we are by now, after all, BitStarz is the biggest crypto casino around with the awards to prove it. 2019 has seen us become the only true place to play – no matter the currency you have burning a hole in your pocket – don’t believe us? […] The post Huge promotions, mega-wins, and no withdrawal limits – BitStarz does it all! appeared first on ZyCrypto.

2019-4-22 15:03


DAIHard, the ‘Unkillable’ Ethereum-based Fiat-to-Crypto DEX Announces Its Open Beta on Mainnet

One of the major drawbacks of the current crypto economy is the reliance on centralized exchanges to buy and transact with cryptocurrency. Centralized exchanges not only exist in direct contrast to the founding principles of cryptocurrencies, but they also track their users, impose withdrawal limits, and are restricted by jurisdiction.

2019-4-16 21:34


Фото:

A Bug Making Ethereum Transactions on Exchanges Vulnerable Has Been Fixed

A bug centering around a new Ethereum token, GasToken, which was enabling abuse on cryptocurrency exchanges, appears to have been resolved. The details are provided in a report originally published on November 13, 2018, that discussed how the bug was exploited by attackers, and what digital platforms could do if they wished to protect their hot wallet funds.

2018-11-22 00:34


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Samsung Pay expands crypto payments options via Alchemy Pay partnership

Alchemy Pay users can link their virtual cards to Samsung Pay, enabling payments with crypto online and in-store, according to an Oct. 7 announcement. Over 500,000 users of Alchemy Pay’s virtual card can now use their crypto for retail payments in the 24 countries where Samsung Pay is available.