Wyre modified its policy to allow users to withdraw below 90% of their assets.
Wyre noted that the decision was in the community’s best interest.
The firm made its chief security officer the interim CEO.
Another Web3 firm has officially stated that it is battling a liquidity crisis, forcing the company to limit its users’ withdrawal rights. Yesterday on Twitter, Wyre, a global crypto payment platform, announced that it modified its withdrawal policy to allow customers to only cash out below 90% of their assets at a time.
We are modifying our withdrawal policy. While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits.
— Wyre (@sendwyre) January 7, 2023
Additionally, the firm noted that the 90% l ...
The post Crypto Payment Provider Wyre Limits Users to 90% Asset Withdrawal appeared first on Coin Edition.