Binance, the world’s largest cryptocurrency exchange by trading volume, briefly suspended withdrawals of the tether (USDT) stablecoin twice Monday. The stated cause was “network congestion.”
Perhaps it was all those anxious traders who heard rumors Binance was going to delist the dollar-backed stablecoin and needed to get out fast. CEO Changpeng Zhao was quick to debunk the rumors on Twitter, saying they were prompted by “a single photoshopped fake announcement.” He had no further comment for CoinDesk.
Binance, which said recently it would donate crypto trading fees to a charity it runs, is the largest holder of USDT tokens, with more than 768.5 million in its reserves. Read more here.