Binance lifts block on bitcoin withdrawals amid heavy volumes

Published by
Reuters UK

SINGAPORE (Reuters) -Cryptocurrency exchange Binance halted bitcoin withdrawals for several hours on Monday, citing heavy volumes and a surge in processing fees, before clearing them at a higher cost. Late on Sunday and again early on Monday the world’s biggest crypto exchange shut bitcoin withdrawals saying there was a glut of pending transactions because it hadn’t offered so-called miners a high enough reward to log the trades on the blockchain. The halt pushed bitcoin lower though its losses were marginal, with the cryptocurrency last down about 1% to $28,162, its lowest in nearly a week. “…

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