CoinFLEX latest crypto exchange on withdrawal freeze Coin

CoinFLEX joins Celsius, Babel Finance, Finblox, and Voyager Digital in either freezing or limiting user withdrawals. Who’s next?

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Categories: Cryptocurrency

The cryptocurrency futures exchange said in a blog post on Friday that Flex is halting withdrawals due to extreme market conditions and the uncertainty of counterparties. CoinFLEX insists that the counterparty in question is not Three Arrows Capital Ltd., the crypto hedge fund that is reportedly at risk of bankruptcy. The exchange said that it will stop perpetual and spot trading in its flex coins in the short term.

According to the blog post, the withdrawal functionality is anticipated to be back on June 30. CoinFLEX joins a growing list of cryptocurrency service providers to limit or stop withdrawals, including Celsius Network, Babel Finance, and Finbox. CoinFLEX declined to comment for this story. Lachlan is a journalist and producer at Forecast working from Melbourne, Australia. His work can be found in many journals in Australia on topics ranging from culture to science.Lachlan holds a Bachelors degree in Journalism from Macleay College in Australia.

One of the closing enterprises feeling after- goods from 3AC’s bankruptcy is cryptocurrency broker Voyager Digital. The establishment’s stock declined 60 after revealing its$ 661 million exposure to 3AC on Wednesday. The company followed up with a 60 cut to its day-to-day retirement limit on Thursday

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