Wyre : Customers will only be able to withdraw 90% of their funds

·09/01/2023
·Laeti Marison (SatoshiBelle)

Crypto payment provider Wyre is limiting withdrawals to 90% of funds held by its customers.

In financial trouble like many other companies in the crypto sector, payment provider Wyre has announced that it is now limiting withdrawals to 90% of funds held by its customers on the platform.

Through a tweet posted on January 7, Wyre announced:

“We are limiting withdrawals to no more than 90% of funds currently in each customer account, subject to current daily limits.”

There are also additional withdrawal limits on the platform that are 5 BTC and 50 ETH per day, as well as limits on withdrawals in fiat currencies such as euros or dollars.

In another tweet, the company shared with the community the reasons for limiting withdrawals to a maximum of 90% of funds:

“Acting in the best interest of our community is our top priority, and we are exploring strategic options for our business that will allow us to navigate the current market environment and fulfill our mission to simplify and revolutionize the global payments ecosystem.”

Wyre’s statement also indicates the departure of CEO Yanni Giannaros, who will hold the role of executive chairman, while Stephen Cheng, chief risk and compliance officer, will become interim CEO.

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Article written by: Laeti Marison (SatoshiBelle)

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.