Crypto Payment Provider Wyre Limits Users to 90% Asset Withdrawal By CoinEdition

• 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 …

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