Wyre Payments, a San Francisco-based crypto payments firm, will implement withdrawal limits for user accounts, it said in a Twitter statement on Jan.7.
The company will limit withdrawals to a maximum of 90% of funds currently in each customer account. Withdrawals will also be subject to current daily limits.
According to Wyre’s website, there are daily withdrawal limits set at 5 Bitcoin, 50 Ethereum, and 20,000 in either USDC, DAI, or Wrapped Ethereum (WETH). Withdrawals in fiat are limited to US$150,000 and €140,000 per day.
Wyre said its latest move is “in the best interest of its community” and that the company is “exploring strategic options to navigate the current market environment.”
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