Apparently quite high outflows from Binance yesterday and a few hours ago they stopped withdrawals in USDC, a ‘stablecoin’.
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Nice catch.
But BTC and Eth spiked upward earlier today. I have not seen why. It does as of today correlate with some commodities.
As of this hour BTC up 4% and Eth up 5%.
I have not had time to read on Binance but the one figure in the headline $1.9 billion percentage wise is not big.
The only concern is freezing USDC. I do not know the corporate tie in or corporate structure around USDC/Binance.
No time to research it right now.
Peace out!