CZ: USDC withdrawals are expected to resume in a few hours, and other stablecoins can be withdrawn at any time

Binance founder and CEO Changpeng Zhao (CZ) posted on Twitter, "The Binance platform has seen a large amount of USDC withdrawals recently. However, the channel to convert from PAX/BUSD to USDC needs to be denominated in US dollars through a bank in New York. It is expected that the bank will open after In addition, these stablecoins are 1:1 conversion and do not involve margin or leverage. At the same time, users can withdraw any other stablecoins at any time, such as BUSD and USDT. Withdrawals are normal.”