Binance temporarily halts withdrawals

Binance, the world’s largest cryptocurrency exchange, paused withdrawals of the stablecoin USDC on Tuesday while it carried out a “token swap.”
USDC withdrawals were resumed about 8 hours after Binance first announced the pausing of withdrawals.
Changpeng Zhao, CEO of Binance, tweeted on Tuesday that the exchange is seeing an increase in withdrawals of USDC.
The move comes as investor concerns grow about Binance’s stability following the collapse of rival exchange FTX as well as a report of a potential criminal investigation from the U.S. government.

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