Banking & Finance Binance pauses bitcoin withdrawals twice in a day By Reuters May 8, 2023, 5:23 AM REUTERS/Dado Ruvic In March, Binance suspended deposits and withdrawals citing tech issues Cryptocurrency exchange Binance halted bitcoin withdrawals on Monday for the second time in a day, citing large volumes. “Our team is currently working on a fix and will reopen (bitcoin) withdrawals as soon as possible,” the company said in a tweet. “There is a large volume of withdrawal transactions from Binance still pending as our set fees did not anticipate the recent surge in (bitcoin) network gas fees,” Binance said, referring to payments made to cyrpto miners who process transactions on the blockchain. Earlier in the day it had paused withdrawals for about an hour. In March, Binance, the world’s largest crypto exchange, suspended deposits and withdrawals citing tech issues. Bitcoin was down about one percent to $28,191, its lowest in nearly a week. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later