• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Bitcoin falling after Binance rumors

Why Binance And Top Crypto Exchanges Halt Transactions With Solana Stablecoins

Reynaldo Marquez by Reynaldo Marquez
2 months ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Binance and other top crypto exchanges halted stablecoin deposits from the Solana (SOL) blockchain. The companies released an official statement claiming that the measure will be temporary, but it could have harmful implications for the SOL ecosystem. 

Related Reading: Bitcoin Reserve On Binance Sharply Rises, Whales Preparing For More Dumping?

Solana (SOL) trades at $13.5, with a 5% loss in the last 24 hours and a 3% loss in the previous week. The cryptocurrency is recording significant losses across all timeframes due to the recent event surrounding FTX and the contagion impacting the crypto industry. 

Solana SOL SOLUSDT FTX Binance
SOL’s price trends to the downside on the daily chart. Source: SOLUSDT Tradingview

Binance Halts Operations With Solana, Is This Blockchain In Danger?

Binance, OKX, Bybit, and other top crypto exchanges took a similar measure. The platforms suspended operations with stablecoins USDC and USDT on Solana but failed to explain their decision to the users. 

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

For example, Binance posted the following message via its social networks and its official website:

Fellow Binancians, Deposits of USDC (SOL) and USDT (SOL) have been temporarily suspended until further notice. Thanks for your support!

The crypto trading venue didn’t specify when they will resume stablecoin operations with Solana. OKX took a stricter measure by fully delisting the digital assets. Similar to Binance, the exchange kept its reasoning in the dark. 

Across social media, users have been speculating about the reasons for this decision by crypto exchanges. Some believe the delisting is motivated by the collapse of FTX and its former CEO and founder Sam Bankman-Fried. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The former FTX executive was a well-known Solana bull. The collapse of FTX might create unforeseen consequences across crypto companies, projects, and crypto ecosystems. The market believes recent events could negatively impact SOL. 

Bankman-Fried and other FTX investors were thought to have accumulated millions of dollars in SOL. The company is in the middle of its bankruptcy process. Therefore, there are expectations that the Bankruptcy court might order the liquidation of any funds in Solana or other cryptocurrencies in this proceedings. 

I’ll buy as much SOL has you have, right now, at $3.

Sell me all you want.

Then go fuck off.

— SBF (@SBF_FTX) January 9, 2021 

Related Reading: Bitcoin Long-Term Holders Face Major Financial Stress

If so, SOL’s price could face massive selling pressure. Anything FTX-backed or linked to the failed crypto exchange seems at risk of following its path. 

Tags: BinancebnbusdtSolSolanaSOLUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

STEPN and SWEAT Surge as Move-to-Earn Returns, But This Project is About to Revolutionize the Sector

STEPN and SWEAT Surge as Move-to-Earn Returns, But This Project is About to Revolutionize the Sector

4 hours ago
Bitcoin

Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?

4 hours ago
Investing in Cryptocurrency: What to Keep in Mind

Investing in Cryptocurrency: What to Keep in Mind

4 hours ago
Bitcoin Investors Turn Greedy For First Time Since March 2022

Bitcoin Investors Turn Greedy For First Time Since March 2022

6 hours ago
Aave V3 Ethereum

Aave V3 Is Live On Ethereum, TVL Up 24% In One Month

7 hours ago
What Is Threshold (T) And Why Is This Lesser-Known Coin Swelling By 146%?

What Is Threshold (T) And Why Is This Lesser-Known Coin Swelling By 146%?

8 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

The Meta Masters Guild Presale Generates $1.5 Million So Far With Price Hike of 23% in Next 48 Hours.

January 27, 2023

Top Experts Compare Treshold (T), BNB (BNB), and Snowfall Protocol (SNW) and Decide Which Is The Best – Find Out More!

January 27, 2023

PancakeSwap To Do a V3 Upgrade In 2023 According to Roadmap Update, Kava Gets Coinbase Listing, Snowfall Protocol Releases the Long-Awaited Snowfall DEX And Promises Another Huge Announcement A Week Before Launch— Is Snowfall Wallet Coming Early Too?

January 27, 2023

Litecoin (LTC) and Polygon (MATIC) Have Been Renowned IN The Past But It’s Time For A New Crypto Project To Take The Top Ranks: Snowfall Protocol (SNW)

January 27, 2023

Binance Coin (BNB) And Orbeon Protocol (ORBN) Speculated To Make Huge Gains In 2023

January 27, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.