Crypto exchange Binance is suspending U.S. dollar transfers. This comes after their banking partner Signature Bank raised transaction minimums for dollar transfers.
This has caused millions of dollars worth of crypto to flow out of Binance, but the company remains “net-positive.”
Binance, the world’s largest cryptocurrency exchange, has announced that it will be suspending U.S. dollar deposits and withdrawals as of February 8th.
“Affected customers are being notified directly,” said a Binance spokesperson.
The company added that “0.01% of our monthly active users leverage USD bank transfers” and that it is “working hard to restart service as soon as possible.”